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Lindt banking on ‘pent-up’ demand as net profits fall
By Anthony Myers
Swiss premium chocolate maker Lindt & Spruengli said it is aiming for 6-8% organic sales growth this year after the pandemic hits key areas of its business with net profit falling 37.5% to 320.1 million Swiss francs ($349.53 million) in 2020.
The maker of Lindor chocolate balls and luxury Easter bunnies said in a statement it is expecting pent-up demand in seasonal sales after the pandemic, as chocolate makers suffer with subdued demand due to consumers buying fewer chocolates during COVID-19.
Lindt has also been hit by the temporary closure of its own stores, and the travel retail sector. But the company said it was convinced that the chocolate market, and in particular the premium segment it operates in, would continue to grow in the future. ....

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