The maker of Lindor pralines said it would invest 750 million Swiss francs ($764.9 million) over the next three years.
ZURICH (Reuters) - Swiss chocolate maker Lindt & Spruengli announced a 20 percent jump in 2007 net profit and its largest investment program on Tuesday, boosting production in North America to protect itself against a weak dollar.
The maker of Lindor pralines said it would invest 750 million Swiss francs ($764.9 million) over the next three years.
"The planned investments in production also aim at a greater independence regarding dollar rate developments in North America," the group said.
A spokeswoman for the company could not give further details on which countries it would invest in.
!ADVERTISEMENT!The move signals Lindt's confidence in demand in the North American market, where the group had seen "especially pleasing" business trends in 2007.
Lindt posted a 20 percent jump in net profit to 250.5 million Swiss francs ($255.5 million) in 2007, in line with forecasts.
The group, which competes with Switzerland's Barry Callebaut , had already reported a 14 percent rise in sales to 2.95 billion francs as it benefited from new products and tapped into the growing appetite for premium and dark chocolates.
Operating profit rose 18 percent to 350.8 million francs.
(Reporting by Katie Reid; Editing by Erica Billingham)
($1=.9804 Swiss Franc)
