UK baker Lees Foods has said its operating profits increased by over a quarter in 2012, a year in which it was taken private.
The company booked operating profit of GBP1.3m (US$2.1m) for the year, up 27% on 2011, helped by higher revenue.
Sales were up 6% at GBP21.6m. CEO Clive Miquel said the company’s Waverley Bakery arm accounted for over half the total increase in sales through new retail and foodservice listings.
He added: “We have an exciting vision for the group moving forward and are confident as demonstrated that we can continue to grow the business year on year. Growth in the immediate future will be achieved through the development of our current product ranges combined with a renewed focus on new product development.”
The company would not provide a number for net profit when contacted by just-food.