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Aryzta Sees 'Steady Improvement In Revenue Trend'

Cuisine de France owner Aryzta said that it was seeing a steady improvement in the revenue trend of the business.

In a trading update, published today, the Swiss-Irish firm outlined that revenue for the month of June was down 23%.

However, this compared with its revenues falling by 36% in May and decreasing by 49% in April.

From mid-March onwards, Aryzta said that it took decisive and rapid action to protect and maximise liquidity in the business.

'This included pausing production in bakeries to reduce capacity in line with demand, furloughing headcount, availing of government relief initiatives, suspending capital expenditure and eliminating discretionary cost to the maximum extent possible,' it added.

'Under Constant Review' 

The company stated that 'these actions are being kept under constant review as the group expects a bumpy recovery over the coming months.'

The group highlighted that it continues to be vigilant with the impact and developments of COVID-19.

'Keeping all costs under control to the maximum extent possible remains a key priority, while the company will continue to adjust our business to reflect changes in the economic environment,' it added.

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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