Lotus Bakeries records FY profit increase
Lotus has recorded a growth in full year profits
Belgium-based group Lotus Bakeries has reported a rise in annual profits.
For the period ended 31 December, Lotus recorded earnings of EUR36.7m (US$41.8m) compared with EUR27.9m for the same period last year.
Operating income increased to EUR49.1m compared with EUR37.7m year on year. Operational efficiencies resulting from investment programmes during recent years have made "significant positive contribution" to operating profit, Lotus said.
In particular, a restructuring of the gingerbread factories in the Netherlands and the continued focus on efficiency gains in the Belgian, French and Swedish factories have increased profitability.
Sales increased 4.7% to EUR348m. Most of the growth came from branded products, Lotus said, where turnover increased by EUR14m.
Lotus Bakeries applies its brand policy both by strengthening its leadership in existing local markets and by internationalisation of Lotus original caramelised biscuits and the Dinosaurus and Annas b...
Belgium’s location gives it access to most of the leading economically developed companies in Europe, which along with a highly skilled labour force, have helped to boost the country’s economy....
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