Great year for Lotus Bakeries: dividend is up, expansion in the air
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Great year for Lotus Bakeries: dividend is up, expansion in the air

© Belga
© Belga

Lotus bakeries recorded a 6% sales increase in 2018, compared to 2017, reaching 556.4 million euros. The dividend skyrocketed from 19.5 to 29 euros per share, a third of recurring net profit, the Lembeke-based company (East Flanders) said Monday on the occasion of the presentation of its annual results. Earnings increased by 5%, up by $67.9 million.

The Speculoos biscuit specialist noted the significant progress of its biscuit and “spread” versions, especially on US and British markets. China, Spain, the Netherlands and the Czech Republic have also registered good results for this favourite.

Gingerbread, however, is not doing as well in the Netherlands where Lotus Bakeries owns the renowned Koninklijke Peijnenburg. Lotus is nevertheless determined to “reverse the negative trend and get this category growing.”

On the Belgian market, Lotus says it has strengthened its place thanks to various product innovations and good results for its brand of waffles.

2019 will also mark a turning point in the company’s history. For the first time, its iconic cookie will not only be manufactured in Lembeke. The Biscoff plant located in North Carolina (East USA) should be operational in the second half of the year.

Not to forget the historic home though: new offices are also being built in Lembeke, besides the Speculoos plant expansion.

By the end of 2019, Lotus will have 2,000 employees worldwide.

The Brussels Times

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