BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Lotus Bakeries NV (LOTB.BR), the Belgian maker of bakery products and snacks, Friday reported higher earnings on higher revenue for the first half compared to the same period last year.
Half yearly earnings increased 23.5 percent to €98.08 million or €120.7 per share from €79.40 million or €97.7 per share of last year.
Excluding items, earnings rose 18.5 percent to €98.67 million from €83.25 million of previous year.
Adjusted EBIT climbed 19.4 percent to €131.04 million from €109.73 million of same period last year. The growth can be attributed to volume increases, strong operational performances, including the successful start-up in Thailand, and the Mondelez partnerships.
Revenue grew 14 percent to €749.1 million from €657.33 million of prior year, primarily driven by strong demand across the Group's strategic pillars, Lotus Biscoff and Lotus Natural Foods.
On Thursday, shares closed at €11,440, up 1.24% on the Brussels Stock Exchange.
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