The company, whose management team led by Clive Miquel paid £5.6 million to buy out shareholders in June 2012, has seen operating profits rise by just under 27% to £1.27m for the year ended December 31, 2012.
Turnover at the group, which includes macaroon maker Lees of Scotland and ice cream wafer producer The Waverley Bakery, rose by more than 6% to £21.6m.
Waverley, which was acquired by the group in 2003, accounted for more than half of the sales increase, driven by new listings for its ice-cream cone and accessory products with retail and food service customers. However, its sales still account for a small percentage of the company's overall revenue.
Mr Miquel noted the year had also seen a "strong performance" by Lees of Scotland, amid higher demand for teacakes, snowballs and meringues from customers.
He said the underlying performance of the overall business continued to be strong, with Lees benefiting from the removal of costs and distractions associated with being a listed company.
And he revealed the company will "potentially" look to make acquisitions or undertake joint ventures that offer the opportunity for further growth. Mr Miquel said: "Demand for our products has been terrific this year. At the moment we are just coping with that increased demand within our current facilities.
"That is a challenge right now. I do not see us rushing into any acquisitions, but clearly if things were to become available or come up that were relevant we would have a look at it."
Mr Miquel said Lees was committed to a continuous investment programme in its production facilities as it sought to counter the rising cost of raw materials and packaging. It installed new ovens for making meringues two years ago and took delivery of new continuous mixers this week.
On current trading, he said 2013 was progressing strongly, helped in part by the sustained spell of warm weather over the summer.
Sales were up 25% in the first half, with the company also benefiting from a positive consumer reaction to new packaging for its teacakes and snowballs.
The products have won listings with major stockists since coming on stream in January.
Mr Miquel said the company had recruited a new product development manager to help meet the appetite from retail customers for product innovation.
Lees was de-listed from the AIM in a deal backed by Lloyds Banking Group that valued the business at 230p per share, seven years after it joined the market.
The management team have since added Charles Shaw, co-founder of restaurant reservation site 5pm.co.uk and former chief executive of Invergordon Distillers, as a non-executive director.
The accounts for 2012 show that Lees Foods made an exceptional gain of £671,120, net of advisors' fees, during the year as a result of a successful claim against Her Majesty's Revenue & Customs (HMRC) for overpaid output tax on teacakes between 1973 and 1995. This boosted the pre-tax profit figure to £1.87m.
Lees employed an average of 291 staff last year.
Staff costs for the year were booked at £2.79m, with directors' emoluments, including pension costs, coming in at £349,639. The highest-paid director received a package worth £98,987, including emoluments and share-related benefits of £89,355 and pension contributions of £9632.
Lees said in the accounts that it operated a defined contribution scheme for employees, whose assets are held separately in an independently administered fund.
The company contributed £86,361 to the fund over the year, and noted there were outstanding contributions at the period end of £15,683.