Chocolate maker Lindt & Sprüngli expects sales to slow in the second half of its financial year, with chief financial officer Martin Hug telling an analyst call that the lifting of COVID restrictions is likely to curb the impressive growth seen in the chocolate market over the past year.

Hug's assessment follows a bumper first-half period for the group, which saw organic sales rise by 17.4% year-on-year to CHF 1.8 billion (€1.67 billion), and operating profit rise to CHF 138.8 million (compared to CHF 17.1 million the previous year).

Slowdown In At-Home Consumption

"We have to bear in mind that we have had really fast-growing chocolate markets in the first six months or actually in the last 12 months, [which] started roughly in the second half of 2020," Hug told a conference call. "Therefore, I really expect to see a slowdown in the chocolate markets, which will impact everybody.