Interim Sales Increase at Lotus Bakeries
Belgium-based biscuits and cakes manufacturer Lotus Bakeries increased consolidated turnover by 5% to Eur133.6m in the first half of 2011. On a like-for-like basis, taking into account the termination of the Jaffa Cake bars contract with McVities, internal growth was over 6%. The recurrent operating result (REBIT) was flat at Eur17.3m. However, lower charges meant the net result for the first half was up 18.7% to Eur11.3m compared with the corresponding period in 2010.
During the first half Lotus Bakeries achieved strong sales growth in Belgium. As in previous years, Lotus Bakeries France again reported good growth during the first half. The main segments for Lotus in France are caramelised biscuits and waffles.
The group invested Eur6.5m during the first half of 2011 as it commenced construction work on a major expansion of its caramelised biscuit factory in Lembeke. Lotus Bakeries operates production facilities in Belgium, the Netherlands, France, Sweden and Canada, and has its own sales organisations in nine European countries.
