Lotus posted a 2.3 per cent increase in turnover to €76,025 and current operating result of €6,435m.

In the past year, Lotus has focused on improving market share in the baked confectionery sector and pursuing distinctive brand-driven marketing campaigns - the company's own brand sales make up 75 per cent of the total turnover.

And the strategy appears to have paid off with a 6 per cent rise in branded sales.

In June, the baking company acquired Dutch firm Koninklijke Peijnenburg giving them more than 60 per cent of the Netherlands gingerbread market.

Peijnenburg markets virtually all its products under its own brand names: Peijnenburg and Wieger Ketellapper, both of which are well-known in the domestic market.

Peijnenburg's consolidated net sales, which are realised almost exclusively in the Netherlands, amounted to €46.5 million with an EBITDA of €10 million in 2005.

Earnings from the subsidiary did not affect Lotus' June results but will be consolidated from July onwards

As a result, the company said it expected full year consolidated turnover to rise by around €23m and REBITDA by €5m compared with the same period in 2005.