Lindt & Spruengli Reports Reassuring First-Half 2016 Results
Lindt & Spruengli reported reassuring first-half 2016 results. Organic sales growth of 6.6% came in line, excluding a portfolio adjustment at Russell Stover, a U.S. company L&S acquired two years ago, and operating profit grew 9%, implying a 20-basis-point increase in the margin. We are increasing our fair value estimate by 5% to CHF 59,000, and we are maintaining our narrow moat and stable moat trend ratings.The first half was characterised by a large shake-out of low-profitability pro...
Chocoladefabriken Lindt & Sprungli is a holding company based in Switzerland. Co. and its subsidiaries manufacture and sell premium chocolate products. Co.'s products are sold under the brand names: Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. Worldwide, Co. maintains eight manufacturing plants (six in Europe and two in the United States) and sells mainly in countries within Europe and the NAFTA countries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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