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Aryzta Bakery Group Positive Start To 2013

By square1
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Aryzta Bakery Group Positive Start To 2013

Swiss-Irish bakery group Aryzta said its underlying net profit performance was "robust" for the first six months of 2013, according to an interim management statement.

Underlying net profit for the group rose by 5.6 per cent year-on-year to hit €129.4 million, while EBITA rose 4.2 per cent to €186.3 million. Group revenue was up 8.2 per cent to €2.07 billion.

"The integration programme at ARYZTA has already yielded good results in terms of cost savings though H1 margins were unexpectedly lower due to its withdrawal from direct stores delivery and short term costs of ATI which should partly unwind in H2," said Liam Igoe at Goodbody Stockbrokers. (12 March)

© 2013 - ESM: European Supermarket Magazine

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