Bakery giant Aryzta has reported a 25.6% increase in organic revenue in its European operations in the third quarter of its financial year, with France and Germany performing strongly, it said.
At group level, the business reported 'strong' organic growth of 22.6% in the quarter, with total continuing revenue up 20.1% to €433.9 million.
Following on from a strong first half, its third quarter performance was driven by volume growth of 15.6% and a price/mix improvement of 7.0%.
Across the first nine months of the year, the business reported revenue of €1.27 billion, an organic increase of 16.3%, comprising volume growth of 12.7% and a price/mix contribution of 3.6%.
Pricing 'accelerated significantly' in the third quarter, to 6.1%, which reflected the 'ongoing work to recover widespread inflationary costs', it said. It added that it expected inflationary pressures to remain in place, 'with limited respite expected in the near term'.
Positive Pricing/Mix Contribution
“While the Q3 organic growth performance is strongly volume driven, significant progress was also achieved in terms of positive pricing and mix contributions," commented Urs Jordi, Aryzta chief executive. "This reflects the continuous engagement with our customers around the widespread inflationary trends through price and increased innovation activity to improve mix contribution.
"We remain fully focused on delivering continuous business performance improvement to ensure we keep abreast of the volatile input environment and its challenges."
The group has increased its full-year organic revenue growth guidance to 14% to 16%.
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