Leeds Foods reports strong performance

UK-based Lees Foods, owners of Lees of Scotland and The Waverley Bakery, has announced an update to its 2009 trading performance.

Group sales from continuing operations closed at £18.2m for the year to December 2009 which compares to £16.1 million (€18m) in 2008, an increase of 13%. In addition 2009 sales are around 5% ahead of current market forecasts.

This was due to exceptionally strong sales in the lead up to Christmas and was also helped by an unexpected increase in the number of customers ordering stock at the year end for January promotions. Continuing pre tax profits for 2009 are expected to be well ahead of market expectations.

Clive Miquel, Chief Executive, comments, “We are pleased to report a strong second half performance in 2009 that has led to excellent sales both at Lees of Scotland and The Waverley Bakery. In the current economic climate our strategy has been to focus on our core operations, and this combined with the development of new products allowing us to sell into new product categories, has resulted in a record year for sales at Lees”.