STORY: Chocolate maker Lindt & Spruengli found consumers had the taste for their products last year.
It reported Tuesday (March 4) a better than expected full-year operating profit.
And that came despite historically high cocoa prices.
The Swiss firm said tight cost control, prices rises and efficiency gain offset higher cocoa costs, and pushed profitability.
Analysts have warned the chocolate industry is in for a difficult year ahead, as companies face unprecedented cost for the raw material.
Market watchers warn this is likely to cause further price hikes.
Lindt’s earnings before interest and taxes hit $987 million last year – just ahead of analyst projections.
Investors liked what they heard and shares jumped over 8%.
