UK baker Inter Link Foods said it was set for further growth as its posted record profits due in part to the growing popularity of single serve individual cakes.
Inter Link, which makes Spiderman, Harry Potter and Scooby Doo cakes, posted a 10% increase in pre-tax profit to £3.0m (US$4.9m) for the year to end-April, on a 12% rise in turnover to £51.4m, reported Reuters.
The company said it would appoint a managing director to allow chief executive Alwin Thomson to focus on the expansion of Inter Link’s licensed novelty cakes range. Paul Griffiths is to take up the new role of managing director as of 1 September and will take control of the company’s distribution businesses.
Inter Link said sales of individually portioned cakes, which represent 50% of the cake sector, were on the rise because of changing social trends such as fewer family meals and longer working hours.