BELGIUM: Lotus Bakeries profits increase in 2013
Lotus Bakeries sales in the US increased at double-digit rate
Lotus Bakeries has reported an 8% rise in annual profits as a result of international growth of the Belgian group's Speculoos and Waffles products and the introduction of the Dinosaurus brand.
The bakery firm posted net profit of EUR27.9m (US$38.2m). Operating profit was up 8.6% at EUR37.2m.
The higher profits came on the back of a 15.2% increase in sales to at EUR332.3m.
Lotus noted its Dutch business was "under pressure" as a result of the recession but US and Asia Pacific experienced strong growth, the former enjoying double-digit growth.
Lotus has said it will continue to "emphatically" invest in marketing and sales over 2014 to further expand its brand.
More than ever, Lotus Bakeries should focus on exportations, more particularly France, the US and Asia that witnessed excellent progressions in 2013 and early 2014. In Belgium, the company bears the b...
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