Cookie manufacturer Lotus Bakeries' past year was a good one. The Belgian company's profit and turnover grew a lot, mostly thanks to the sales growth outside of Europe.
New factory in the United States
Lotus Bakeries' turnover grew 18.3 % to 411.6 million euro, thanks to "the international growth of Lotus original carramelized biscuits (‘Lotus Biscoff’) and Lotus Biscoff spread, with Lotus Dinosaurus and Lotus waffles also experiencing significant growth", Lotus stated in a press release.
Lotus expanded its distribution channels both in the United Kingdom and the United States, while its paste also grew a lot in several countries. Lotus Dinosaurus experienced French and Belgian growth, thanks to its filled cookie variations, but the brand is also experiencing growth in the Netherlands, the Czech Republic and Israel.
The strong turnover growth helped boost net profit 23.5 % to 45.4 million euro, which means that Lotus managed to beat expectations all across the board. Its debt did grow, from 20.2 million to 163.9 million euro, as it invested in additional production lines and acquired Natural Balance Foods and Urban Fresh Foods.
Lotus will keep up its investments, with the construction of a new Lotus Biscoff factory in the United States. It will be the company's very first non-European production facility, opening its doors in 2019.