Lees, Lees, more if you please …

Published on Wednesday 24 June 2009 22:42

SALES of meringues and new products, such as the Mini Easter Snowmallow Tub, have driven like-for-like sales at Lees Foods, up 14 per cent in the year to date.

The macaroon bar maker estimated that sales in the period January to mid-June hit 8.5 million.

Last year, sales hit 16.1m but this included figures from its baked goods division Patisserie, which folded last year.

At its annual general meeting yesterday, the Aim-listed confectionery group said it expected profits for the first six months of the year to 30 June, would be ahead of the comparable figure for last year.

Chairman and chief executive Raymond Miquel attributed the boost in sales performance to a combination of increased demand from existing customers, a number of key new accounts and the introduction of new products to the company's portfolio.

New products include variations of meringues – mini and large – which Miquel said were selling well as people were now cooking from home more. Sales were also boosted by the arrival of the sun and barbecue season.

New accounts include supplying Waitrose as well as DIY and garden centre chain Wilkinson.

A spokesman for the group also said that sales of in-store bakery goods were also performing well.

The company proposed an unchanged dividend of 6.7p per share.

Shares in the Coatbridge-headquartered confectionery maker rose 5p to 125p.