Aryzta has announced a healthy performance in its half-year results. Adjusted profit rose by 14.6% within its food division with underlying revenue increasing 6% for the six months to 31 January 2009.
The global specialist bakery company saw operating profit grow 11% to E64m in its Food Europe division, which includes the Delice de France, Cuisine de France and Heistand brands.
Operating profit was up 25.9% to E34.3m in its Food North America division, which includes the La Brea Bakery and Otis Spunkmeyer brands, and up 50.9% to E0.9m in its Food Developing Market division.
Chief executive officer Owen Killian said that the business had “displayed excellent defensive characteristics in the current challenging economic climate”, adding that it remains focused on cash and continued earnings growth.
Aryzta also confirmed that its Grangecastle bakery, distribution and R&D centre in Dublin are fully commissioned and on budget.
According the statement released it “offers an opportunity to develop the UK/Irish business into new channels, such as the multiple retail channel in the UK”.
Aryzta formed in August last year through the merger of Irish company IAWS and Swiss Bakery firm Hiestand.