Lotus Bakeries posts 20 per cent growth as stock price reaches new record
Lotus Bakeries achieved a turnover of 599.3 million euros in the first six months of the year, 20 per cent more than in the same period last year. The East Flanders biscuit manufacturer far exceeded analysts' expectations, sending its share price to a record high.
The vast majority of the increase in turnover was due to "robust volume growth", the company said in a press release. Sales of its Biscoff speculoos biscuit brand rose by more than 20 per cent, and factories in Lembeke, Flanders, and Mebane, US, achieved record production levels.
Lotus warns that it is reaching the limits of its production capacity and is therefore more cautious about the second half of the year. The company is expanding, with the construction of a factory in Thailand on schedule to be operational by the first half of 2026.
Shares in Lotus Bakeries were up over 8 per cent at 10,900 euros on Friday, a new high. Compared to the beginning of 2024, the share price is up around 28 per cent.
#FlandersNewsService | © BELGA PHOTO SISKA GREMMELPREZ
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