Aryzta Posts 12.2% Revenue Increase
Published on Mar 16 2015 9:34 AM in Fresh Produce
Swiss-Irish bakery group Aryzta has posted a 17.2% increase in half year revenues, to €1.86 billion.
The business, which owns the Cuisine de France brand among others, saw its European (Food Europe) business increase its revenues by 5.4% to €805 million in the half year to 31 January. EBITA increased 15.8% to €224.8 million.
The business said that its 'customer centric' approach is 'working and generating positive demand for our bakeries'.
"Our European performance remains resilient, being well positioned and well invested to benefit from continued strong growth in the In-Store Bakery channel," said ARYZTA AG Chief Executive Officer Owen Killian.
"The restructuring of our flatbread business into a 50/50 JV will reduce European revenues by 6% over the next 12 months. Our immediate focus is to generate sustainable underlying revenue growth, while optimising our production for higher returns and increased free cash flow."
© 2015 European Supermarket Magazine – your source for the latest retail news. Article written by Stephen Wynne-Jones