Scottish cake maker Lees Foods has confirmed major hikes in profits and sales for 2009.
Sales at the owner of Lees of Scotland and The Waverley Bakery rose 13% to £18.19m for the year, with pre-tax profits more than doubling from £378,782 in 2008 to £842,501.
“It has been an eventful year,” said chief executive Clive Miquel (pictured). “We have emerged not only in good shape but have successfully grown our group sales and profits to record levels.
“Trading levels have been sustained into 2010, with our sales during the first quarter slightly ahead of the same period in 2009.”
But he cautioned: “Whilst some commodity prices and other input costs are not increasing at the same levels seen in recent years, there are a number of cost areas where we are still under pressure.
“Our future strategy will focus on developing new products to reflect the changes in consumer demand and improving profit margins through tight cost control and an improvement in our sales mix of products.”
January deals spark sweet business for cakemaker Lees (7 January 2010)
Lees parts company with veteran chief Miquel (15 September 2009)