Reuters
Lindt’s 2023 profit lifted by price hikes as chocolate market slows
Cocoa prices have risen to record highs as adverse weather in major growing regions, tree illness and capacity shortages lead to expectations of an ever wider supply deficit this season. Lindt, which makes Lindor balls and gold foil-wrapped Easter bunnies, reported a 17.9% rise in net income to 671.4 million Swiss francs ($758 million) for the year to Dec. 31, broadly in line with the 670 million francs forecast by analysts at Zuercher Kantonalbank. “Lindt once again demonstrated its strong pricing power in FY23 thanks to its global premium positioning with high exposure to gifting and pralines,” Vontobel analyst Jean-Philippe Bertschy said in a note.