Profits leap for Lotus Bakeries

Lotus Biscoff
Lotus Bakeries sees good half year results
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Lotus Bakeries, the Belgium based company that has just bought a majority stake in Natural Balance Foods, has seen profits jump by more than a third in its first half. 

The company posted a 34% increase in net profit to €21.6m (£15.8m) for the six months to the end of June while operating income was up 29.4% at €28.3m.

Turnover grew 16.5% to €195.6m with Lotus citing its move to “internationalise” the Lotus Biscoff brand – the caramelised biscuit coffee accompaniment.

The group said the product had seen “powerful growth” in the UK, as well as other countries such as France, Germany and Saudi Arabia.

The company recently announced the purchase of a 67% stake in the Natural Balance Foods business, which owns the Trek and Nākd brands.

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