Tuesday, December 12, 2017

Lakeland indulges in soaring profits

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As baking enjoys a renaissance, kitchen retailer Lakeland has revealed that it doubled its profits last year following increased demand for baking essentials. 

The popular BBC television series The Great British Bake Off has inspired the nation to engage in the pastime and Lakeland, which sells everything from double-sided cookie cutters to edible glue, has recorded a 5.5% rise in sales to £175.6m.  

On the back of the show‘s success, tax profits grew from £2.3m to £5.5m in the 12 months to December 2014 

Bake Off, which launched in 2010 and broadcasts to over 9m viewers on average, has revived home baking sales in the UK. According to market research company Mintel, annual sales jumped from £523m in 2009 to £1.7bn in 2014.  

According to the TelegraphLakeland also said that it was appealing to more health conscious customers who were invested in the “clean eating” trend.  

The British retailer, which added