Swiss bakery group Aryzta has lifted European revenue, boosted by a reorganisation of its bakery and food solutions arm.
Its European revenue increased 14% to €1.5bn (£1.2m), and the company invested €100m in expanding its bakeries, for the year ending 31 July 2014.
This is part of the company’s Aryzta Transformation Initiative (ATI), a three-year plan launched in 2011, which focused on improving its supply chain to become a “leading international bakery company”, said the firm.
The company has also created a single separate ‘to-go’ market sales strategy as a result of the ATI.
Commenting on the results, Owen Killian, Aryzta chief executive said: “Aryzta has delivered a strong performance for FY 2014.
“Our alignment with the requirements of major food corporations will facilitate long-term growth, while the creation of Aryzta Food Solutions will bring value and differentiation to independent customers.
“Aryzta remains financially disciplined and very cash generative, which will support continued investment and sector consolidation.”
Cuisine de France, part of Aryzta AG, has recently announced plans to roll out 180 refreshed in-store bakery packages in a rebranding project.