Lotus Bakeries saw its profits jump by more than a third in the first half of the year, with sales in part rising on the back of the the Belgium-based snack maker's move to "internationalise" its Lotus Biscoff biscuit brand.
The company posted a 34% increase in net profit to EUR21.6m (US$25m) for the six months to the end of June. Operating income was up 29.4% at EUR28.3m.
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Turnover grew 16.5% to EUR195.6m. Lotus Bakeries pointed to the international growth of its Lotus Biscoff caramelised biscuits, as well as the expansion of its Lotus Dinosaurs biscuits and its namesake waffles.
The group said Lotus Biscoff had seen "powerful growth" in the UK, with countries including France, Germany and Saudi Arabia enjoying "fine growth".
Lotus Dinosaurs saw growth in Belgium and France with moves to roll out the product to other markets.
In June, one of the factories in Belgium that made waffles was destroyed by fire. Lotus Bakeries managed to get products back on shelves by July through shifting output to a second site. It is looking to replace the lost production and will announce more details in September.
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By GlobalDataTwo weeks ago, Lotus Bakeries announced it had bought a majority stake in Natural Balance Foods, the UK firm behind snack bar brands Nakd and Trek.
The deal saw Lotus acquire 67% of the business for around GBP60m (US$94.8m).
