LEE24 May 2011 22:49
Lees Foods (LEE) posted a 22% jump in annual pre-tax profits, driven by improved efficiencies, and said is was confident in continuing its development despite the unsettled outlook for commodity prices. The company, whose principal activity is the manufacture of confectionery products, meringues, chocolate snowballs, teacakes and ice cream cones and wafers, reported a pre-tax profit of 1.03 million pounds for the year ended 31st December 2010 on sales up 3% at 18.65 million pounds. In light of this, a dividend of 7.5p was recommended, up from 7.2p a year earlier. Shares in Lees advanced 19p to 197.5p.