Lotus Bakeries: Half-yearly report 2010

Lembeke / BE. (lbbv) Lotus Bakeries Group´s consolidated turnover for the first half of 2010 was 127,2 million EUR, up almost one percent on the first half of 2009. On a like-for-like basis, taking into account the termination of the Jaffa Cake bars contract with McVities, turnover for the first half of 2010 was up two percent over the same period in 2009, and slightly more for the branded products.

In the first half year, Belgium achieved slight growth. Product innovations based on increased convenience in the waffles and cake segment were enthusiastically received by consumers. Together with increased marketing efforts and higher media investment, this resulted in a further strengthening and significant growth of the Lotus brand in Belgium.

In a slightly declining gingerbread market, in both value and volume terms, Koninklijke Peijnenburg was able to maintain its market share and increase volume. Sales of caramelized biscuit spread continue to grow, and Koninklijke Peijnenburg also grew in the «cakes and biscuits» segment. Total sales of the branded products in the Netherlands were almost stable in the first half.

France grew again in the first half. Increased turnover reflects good sales in the caramelized biscuits, caramelized biscuit spread and waffles segments. A clear focus on caramelized biscuits produced significant growth in the United Kingdom area during the first half. North-Eastern Europe saw slight sales growth during the first half of 2010 compared with 2009. In this area caramelized biscuit sales grew significantly, largely due to the introduction of caramelized biscuits into Sweden in January 2010.

Caramelized biscuit sales in North America increased during the first half of 2010. During the first half of 2010, the Anna´s business was transferred from various smaller brokers to a single national broker for the entire United States. As well as caramelized biscuits (Lotus) and pepparkakor (Anna´s) are, as from today, marketed by one national broker in the United States. This transition period produced a negative impact on sales of Anna´s biscuits, which prevented North America from growing as a whole.

The Export area, with caramelized biscuits as almost the only product, delivered strong growth during the first half of 2010. Only in Spain sales saw a negative trend, the company said in a detailed press release.

Info: Lotus Bakeries – half-yearly report 2010 – complete (PDF, five pages, 559 KB).

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