Confectionery manufacturer Lees Foods, owner of Lees of Scotland and The Waverley Bakery, has announced favourable year-end results, despite cost increases.

To 31 December 2006, sales increased by 7% to £14,480,270 on the same period in 2005, and pre-tax profits were up 6% to £631,309.

Raymond Miquel, MD, said that the company had recently invested £200,000 on a new biscuit line at the Lees of Scotland factory at Coatbridge, "resulting in a saving of approximately £80,000 on an annualised basis".

Miquel added that the company is looking into the possibility of an acquisition. Lees makes confectionery for retailers including Tesco and Aldi.