Lindt: suspends 2020 guidance
(CercleFinance.com) - Swiss chocolate maker Lindt & Spruengli said on Tuesday that its growth and financial outlook for 2020 were "no longer valid," due to the coronavirus pandemic.
Since the beginning of March, the economic crisis resulting from the pandemic, together with restrictions imposed in many major markets, have been impacting the company's business, Lindt said in a statement.
For the coming years, Lindt has however maintained its existing mid- to long-term organic sales growth target of 5-7% per annum, combined with a steady improvement in operating margin of 20-40 basis points per annum.
In achieving these targets, Lindt & Spruengli "will continue to grow faster than the markets," the group noted.
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