Lindt & Sprüngli has not only succeeded in meeting the growth and profit forecasts published last March, but has also slightly exceeded expectations. In comparison with the same period in the previous year, the Group achieved organic growth in local currencies of 9.2% as at June 30, 2010, far exceeding the performance of the chocolate market as a whole. In Swiss francs, this equates to sales of CHF 1,057 billion, an increase of 7.9%. Link: Click Here

GAM: Assets under Management for the Group stood at CHF 116.6 billion on 30 June 2010, an increase of CHF 11.3 billion (11%) from a year earlier and CHF 3.0 billion (3%) from year-end 2009. Strong net new money inflows in both the first and second quarters of 2010, totalling CHF 5.6 billion, more than offset adverse currency movements and the negative impacts of the double-digit decline in core equity markets in the second quarter of 2010. Link: Click Here

Ypsomed is streamlining its executive management board in Switzerland and at the same time expanding its European sales organisation. Starting September 1st, 2010, the previous Chief Operating Officer (COO) Maurice Meytre is appointed as the new Chief Executive Officer (CEO) of Ypsotec AG (Grenchen), a subsidiary company of the Ypsomed group. At the same time, Dr. Christoph Rindlisbacher, previously Senior Vice President Corporate Development, will be leaving Ypsomed as of December 31st, 2010. Link: Click Here

The Komax Group substantially improved sales and new orders in the first six months of 2010. First-half sales came in at CHF 157.7 million (previous year: CHF 103.0 million). New orders more than doubled to CHF 168.5 million (previous year: CHF 82.7 million). Following the previous year's loss, the business staged a clear return to profit. Link: Click Here

Xstrata plc (LSE: XTA.L, SWX: XTA.S) and Sphere Minerals Limited (ASX: SPH) ("Sphere") announce that Sidero Pty Limited (ACN 145 740 450) (“Xstrata”), a wholly owned subsidiary of Xstrata plc, and Sphere have entered into an Offer Implementation Agreement for an all-cash offer (the “Offer”) by Xstrata to acquire all of the issued and outstanding shares of Sphere by way of a recommended off-market takeover offer. Link: Click Here



Economy
********

The August "flash" PMI report for the euro area suggested that manufacturing and services activity moderated slightly in the month, but implied that economic growth will put in a strong performance for Q3 as a whole. The euro area "flash" composite PMI fell to 56.1 in August, from 56.7 in July (cf. BarCap: 56.2, consensus: 56.7). Link: Click Here