Scottish company bucks downturn

15 January, 2010
Page 10 

Lees Foods has defied the recession and announced record sales in 2009, up 13% on 2008. The parent company of Lees of Scotland and Waverley Bakery saw sales from continuing operations hit £18.2m for the year to December 2009, compared to £16.1m for the comparable 2008 period.
In its trading update, the firm said the sales hike was "due to exceptionally strong sales in the lead-up to Christmas" as well as an unexpected increase in the number of customers stocking up in preparation for January promotions. Lees added that its 2009 sales were around 5% ahead of current market forecasts.
"In the current economic climate, our strategy has been to focus on our core operations. This, along with the development of new products allowing us to sell into new categories, has resulted in a record year for sales," said chief executive Clive Miquel.
Lees Foods recently reached a settlement with the directors and shareholders of its former subsidiary Patisserie UK, which will see the Coatbridge-based firm receive approximately £225,000.


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