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Cusine De France Owner Misses Targets With Decline In Global Revenues

By Publications Checkout
Cusine De France Owner Misses Targets With Decline In Global Revenues

Owner of Cusine De France, Aryzta has reported revenue increase of 5.5% to €1,960 million and underlying growth of 0.2%, for the six months ending 31 January, 2016

In Europe, revenues increased by 9.5% to €881.7 million, however Aryzta’s North American business saw a 4% decline, with revenues only growing by 3.6%.

Across the rest of its global markets, Aryzta has reported a fall in revenue of 7.2% to €107.3 million.

Commenting on the results, Aryzta Chief Executive Officer Owen Killian said, "Underlying revenue growth momentum continued to improve, although still 18 - 24 months behind prior expectations."

The company now expects growth over the next year to be 'erratic', while its shares fell by 5.7 per cent as of 9:20 am in Zurich, following the announcement of the results.

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However, Killian noted, "Aryzta is well-invested and well-positioned to grow, because its recently invested infrastructure is the most relevant and most competitive for this market."

© 2016 - Checkout Magazine by Jenny Whelan.

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