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Aryzta Posts 2.7% Increase in Revenue in Q3

Published on May 30 2017 10:24 AM

Aryzta Posts 2.7% Increase in Revenue in Q3

Aryzta has posted a 2.7% increase in total group revenue in the third quarter of its financial year for the period ended 30 April 2017.

The swiss-Irish company highlighted that its underlying revenue comprised a 'negative volume impact of (2.7)% and a positive price/mix impact of 2.7%.'

The Bakery firm outlined that its underlying revenue growth improved by 2.0%, 'reflecting a strong performance in Europe, a modest improvement in North America and some weakness in Rest of World.'

It also outlined that it is experiencing 'ongoing margin pressure from increased headwinds relating to labour issues and negative operating leverage from weaker revenue in North America and from optimising European capacity which will take significantly more time to address than expected'.

It also announced early this month the appointment of Kevin Toland as CEO. Toland willjoin Aryza following a customary six month notice period, 'or earlier, if mutually agreed by both parties'.

© 2017 - Checkout Magazine by Donna Ahern

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