Lotus Bakeries sales in the US increased at double-digit rate

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.