Lees Foods has warned that its profits for the first half of the year will be down on 2010 levels.
The owner of Lees of Scotland and Waverley Bakery said steps to combat high commodity prices faced “a natural time lag” that meant its performance for the past six months had suffered.
Sales for the first half of the year were up 6% from £9.62m last year to £10.22m this term.
“The demand for the Lees range of products continues to be particularly strong and Lees of Scotland has achieved record sales for the first half of the year,” the company said in its latest trading statement.
“Commodity prices remain high although – as reported in May – the company has been successful in taking steps to mitigate these,” it added.
Lees said it expected to hit performance targets for the year as a whole. Interim results will be published on 28 September.
Sales hit new high at cake maker Lees (25 May 2010)