The turnover of the food group increased by 5% in the first half to 267.5 million euros, supported by both the biscuit division and the spreads division.
Even slightly less than the expectations of some analysts, Lotus Bakeries
delivered good quality results in the first half of the year . At constant exchange rate the turnover of the food group increased by 5% to 267.5 million euros . The growth is on the rendezvous, both in the cookie department and in the spread. Profitability also follows: the net profit increased by 7.5% and amounted to 34.2 million euros, or 41.92 euros per share (net profit part of the group)
"We combine profitable organic growth with the execution of acquisitions and large investment projects on different continents " Jan Boone said. The CEO of Lotus Bakeries refers in particular to the construction of the new Lotus Biscoff plant in the United States to be operational in the second half of 2009. "The strong growth of Lotus Biscoff in the first half confirms that the internationalization of our most important product "hero" works " added the statement.
The Recurring Operating Result (Rebit) amounted to 47.9 million and the recurrent operating cash flow (Rebitda) to 54.9 million. Both names increased by 1.2 million euros compared to last year.
The investment projects in South Africa and the expansion in Belgium also follow the calendar . And with the recent acquisition of Kiddylicious, the group confirms its leadership in the UK and its international growth ambitions in the natural snack segment. The sales and results of Kiddylicious are consolidated from July 26, 2018.