DJ Lindt 1H Net Pft CHF2.7M Vs Pft CHF23M, Confirms 2009 Goals

Posted on: Tue, 25 Aug 2009 01:41:00 EDT

Symbols: LDSVF

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ZURICH, Aug 25, 2009 (Dow Jones Commodities News via Comtex) --
LDSVF | Quote | Chart | News | PowerRating -- Swiss premium chocolate producer Chocoladefabriken Lindt & Spruengli AG (LISN.EB) said Tuesday its first-half net profit fell 88% to CHF2.7 million after CHF23 million a year-ago due to customer de-stocking, higher raw material costs and a weakness of several important currencies. The company confirmed its 2009 guidance.

MAIN FACTS:

-Sales in the first half fell to CHF979 million after CHF1.03 billion a year-ago.

-The operating profit, or EBIT, excluding the special charges already announced in March 2009, amounts to CHF24.1 million (same period previous year CHF33.6 million).

-Because of the difficult global economic situation, price increases attributable to rising cocoa prices were only partly passed on, so that the higher raw material costs and negative currency influences could not be fully compensated.

-However, the company's sales performance clearly shows that demand for innovative, high quality and trustworthy products also remains strong in an adverse market environment and, thanks to its premium strategy, the company's competitiveness continues intact even under the most challenging conditions.

-Provided that the global economy continues to stabilize, albeit very slowly, in the second half of 2009 and that the swine flu pandemic does not reach drastic levels, Lindt & Spruengli is maintaining its sales and profit guidance announced in March 2009 with growth between 2% and 5%, respectively an operating profit, or EBIT, of between CHF260 million and CHF280 million for the year 2009 as a whole.

Company Web Site: http://www.lindt.com

   -Zurich Bureau, Dow Jones Newswires; +41 43 443 8040; zurichdjnews@dowjones.com

(END) Dow Jones Newswires

08-25-09 0141ET

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