Lindt & Spruengli Reports Solid Second-Half 2016 Sales Recovery
Lindt & Spruengli reported a solid recovery in sales in the second half of 2016, when organic sales growth increased to an estimated 7.1%, up from 4.4% in the first half. Through both halves, sales were depressed by a weak North American chocolate market, coupled with portfolio rationalisation at newly acquired Russell Stover. Currencies contributed positively to sales in 2016, for the first time since 2012. We are not making any changes to our narrow moat rating or our CHF 59,000 fair value...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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