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Lindt Shares Fall After Cocoa Prices Weigh on Profitability

Lindt Shares Fall After Cocoa Prices Weigh on Profitability

Lindt & Spruengli LISP -7.53%decrease; red down pointing triangle shares fell after the Swiss chocolatier reported first-half earnings that missed analysts' expectations and turned more cautious on its full-year profitability outlook, reflecting a hit from high cocoa prices.
Chocolate makers have been grappling with increases in raw-material costs after last year's record-breaking surge in cocoa prices, which declined from its peaks over the last few months as consumers cut down spending on chocolate treats. However, cocoa prices remain at historically high levels.
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