Snowball-maker Lees announces record results

04 August, 2011

The popularity of Lees of Scotlands’ iconic Snowball and Teacakes shows no sign of fading after the Scottish company announced record results for the first half of 2011.

Lees Foods, which also includes the Waverley Bakery, saw sales for the six months to June 2011 rise by 6% to £10.22m, compared to £9.62m for the same period last year.

The company said that while commodity prices remained high, it had been successful in taking steps to offset them.

“There has been a natural time-lag in this process, which means pre-tax profits for the first six months are likely to be lower than last year,” it said in statement.

“However, the company remains optimistic in respect of the second half of the year.”

Lees Foods reported annual sales for 2010 of £18.65m, up from  £18.19m in 2009. Pre-tax profits rose 22% to £1.03m.





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