Aryzta reports European revenue rise for first quarter

Aryzta Food:
the company has seen positive growth in its first quarter
  (Photo:  )

Aryzta, the Swiss frozen bakery giant, has seen revenue up 7% for Food Europe to £320.1m (404.1m), in its first-quarter trading statement.

The business, which owns brands such as Cuisine de France, said underlying revenue was up 3.1%, with a contribution of 2.7% from acquisitions, for the period ended 31 October 2014.

It said the revenue growth had also been impacted by a transfer of production volumes from North America to Europe.

Aryzta chief executive Owen Killian said: “We anticipate increased momentum in underlying revenue through H2.

“Our focus is to deliver value for our customers, while unlocking the benefits of our newly created business platform.

“With our increasing market relevance, we have confidence in our unchanged medium-term guidance of 7% to 12% growth in underlying, fully diluted EPS.”

Overall, it said the trends in Europe remained positive, which reflected “improving stability” in Aryzta Food Solutions and strong growth within large retail.

The trends in Food Rest of World were consistent with previous quarters, it added.

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