DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Aryzta Posts 2.7% Increase In Revenue In Third Quarter

By Steve Wynne-Jones
Share this article
Aryzta Posts 2.7% Increase In Revenue In Third Quarter

Bakery firm Aryzta has posted a 2.7% increase in total group revenue in the third quarter of its financial year, with its Europe business seeing a 3.9% rise.

Underlying growth was flat (0.0%) compared to the same period last year, however, due to currency effects. The Swiss-Irish company said that group underlying revenue comprised a negative volume impact of (2.7)% and a positive price/mix impact of 2.7%.

Strong Performance

The group noted in a statement that it posted a 'strong performance in Europe, a modest improvement in North America and some weakness in Rest of World'.

It is, however, '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'.

As the company is in a period of management transition, it did not issue guidance for the full year.

ADVERTISEMENT

Earlier this month, the group announced Kevin Toland, the chief executive of Dublin and Cork airports as its new chief executive, effective from the end of this year.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine

 

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.