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Lees Foods
- BY: Andrew Hore |
- POSTED: 29/07/2010 |
- COMMENTS: Add yours
Lees Foods expects sales and profits to be ahead of forecasts for the full year.
The macaroon bars and coconut snowballs maker says sales increased from £8.85m to £9.62m in the six months to June 2010. Profits will be much better than the £394,000 reported in the first half of 2009.
At 190p a share, up 17.5p on the day, Lees is valued at £4.59m.
Lees grew sales by 13% to £18.2m in 2009. Pre-exceptional profits jumped from £379,000 to £843,000. There was a £230,000 charge for the restructuring of the board. There was £2.08m in the bank at the end of 2009. The dividend was increased from 6.7p a share to 7.2p a share.
The interim figures will be published on 29 September.
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