Cuisine de France Owner Posts 3.5% Revenue Decline In Third Quarter
Aryzta Group has reported a total revenue decline of 3.5% to €621.9 million in its third quarter.
On an organic basis, revenue increased by 6.2%.
Aryzta Europe posted organic revenue growth of 0.6% during the period.
Despite the fact that Europe continued to be impacted by Covid-19 restrictions, Aryzta said it has seen improvement across the majority of its markets.
The company said that the re-opening of economies will support bakery consumption, which has been significantly impacted by the restrictions to date.
Aryzta Continuing Operations
Total revenue from continuing operations increased by 1.4% in the quarter ended 1 May 2021.
Organic revenue increased by 2.6%, with volumes increasing by 1.9% and price/mix increasing by 0.7%, as the majority of its markets started to see a pickup in activity.
Aryzta Group said that overall revenue development reflects a significant improvement over the comparable period, when Covid-19 severely depressed performance.
According to the group, while retail and QSR channels are performing well, foodservice has yet to recover, and the pace of recovery will be determined by the successful roll out of vaccinations in its key markets.
The bakery firm said is not providing guidance, given ongoing challenges and uncertainty surrounding Covid-19 and the reopening of economies where it operates.
Aryzta will report its full-year 2021 results on 4 October 2021.