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.
Previously one of the most dynamic players in packaged/industrial cakes and pastries, biscuits and spreads, Lotus Bakeries is facing a sudden slowdown in Belgium in 2012-2013 but not in foreign market...
Lotus Bakeries is predicted to strengthen its position within biscuits, packaged/industrial cakes and packaged/industrial pastries in Belgium through mergers and acquisitions. Its solid implantation i...
According to trade sources, biscuits are one of first victims of some changes in consumers’ habits and notably the decline of traffic in grocery retailers. Belgian people are increasingly using the in...
Boulangerie La Lorraine is expected to strengthen and consolidate its strong position within bread and packaged/industrial bread in Belgium. Thanks to vertical concentration, the company is expected t...
Sales of baked goods are governed by a move back to basics, authentic and naturally-healthy products. Ingredient manufacturers take advantage of the opportunity to propose additives aimed at giving an...
Gone are the bad years for biscuits: The category enjoys a sudden recovery in 2013 notably thanks to the come back to self-indulgence with little moments of pleasure at the expense of austere health a...
One of the main events in 2012 was the establishment by the Colruyt chain of its own in-store bakeries. As well as Delhaize in the middle of the review period, the Belgian soft discounter now has in-s...
Sales of spreads in 2011 and 2012 were marked by a sudden turnaround. Whilst the middle of the review period witnessed the decline of speculoos-based spreads, 2011 and 2012 enjoyed the counterattack o...
- BRICs: The thinking behind Mondelez's Vietnam deal
- Interview part 1: BRF CFO Augusto Ribeiro
- Prospects for protein: Snacks growth to continue
- Comment: Why Gardein is Pinnacle's ideal fodder
- Deal or no deal: Should Danone buy Mead Johnson?
- 2 Sisters Food Group posts higher annual losses
- Kellogg trumps Abraaj bid for Bisco Misr
- Bird flu leads Dutch to stop poultry distribution
- Live blog: Food Matters Live
- Arla eyes infant formula firms with lactose plant
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Energy Bars Market in Canada: Market Profile to 2017
- The Snackification of Breakfast
- Dairy Product Production in China
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report