IAWS Group announced this week that group revenue is up 22.5% to €1.9bn (£1.3bn) and operating profit increased 31% to €146.4m (£1bn).

Sales at the Irish company, which owns brands including Delice de France and Cuisine de France, were boosted in October last year by the purchase of US-based Otis Spunkmeyer Holdings, according to its preliminary results posting for the year ended 31 July 2007.

"This has been a transformational year for the Group with our largest ever acquisition, that of Otis Spunkmeyer," said chief executive Owen Killian. "IAWS has had an excellent year with strong underlying growth across the entire business."

The Group also made substantial investment in developing its lifestyle foods business in the North American value-added bakery market through acquisition and capital investment in recent years. The Group attained a 5% share of the $12bn value-added bakery market.