Lindt Reports Sales And Earnings Decline But Delivers Upbeat Forecast

Premium chocolate maker Lindt & Sprüngli has reported a drop in revenues and profits for 2009. In the 12 months to December Lindt's sales advanced by 2.3% on an organic basis but reported sales came in 1.9% lower at CHF2.52bn due to a strengthening of the Swiss currency. Meanwhile, earnings before interest and tax (EBIT) dropped by 27% to CHF264mn and net profits fell by 26% to CHF193mn. This significant drop in earnings was partly due to one-off charges associated with the closure of retail outlets in the US and impairment costs in Italy. However, the company's profitability was also

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