Tiger Brokers

BUZZ-Belgium's Lotus Bakeries shares climb on strong annual results

Reuters
Feb 06
BUZZ-Belgium's <a href="https://laohu8.com/S/LOT">Lotus</a> Bakeries shares climb on strong annual results

** Shares in Lotus Bakeries LOTB.BR rise 2.4% after the Belgian cookie maker reported strong full-year results driven by strong volume growth in its Lotus Biscoff and Lotus Natural Foods unit and improved profitability

** KBC says the sales growth is driven by strong volume momentum in Biscoff and Natural Foods, particularly in the U.S.

** Co's full-year revenue rose 10% to 1.36 billion euros ($1,60 billion)

** Its REBITDA margin came in at 20.2%, representing a 12% increase year-on-year

** "We will update our model as we noticed that the licence agreements with Mondelēz strengthen Lotus’s margin profile even further," KBC adds

** Up to the previous session's close, shares were up 29.9%​ YTD

($1 = 0.8482 euros)

(Reporting by Hugo Lhomedet)

((hugo.lhomedet@thomsonreuters.com))

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