Aryzta profits up 0.9%

Swiss-Irish bakery group Aryzta Food Solutions, the company behind brands including Delice de France, has reported a 0.9% rise in underlying revenue.

The 0.9% rise came as part of Aryzta’s Q3 trading update for the period to 30 April. The company’s total revenue declined by 2.4% to £724.8m (€949.8m).

In the quarter, disposals, net of acquisitions, reduced revenue by 1% and currency movements reduced revenue by 2.3%.

European operations fared well, as revenue grew by 3.6% to £320.79m (€420.3m), and underlying revenue grew 3.9%. But North American revenue declined by 7% to £360.73m (€473.5m).

Excluding revenue with customers impacted by contract renewals, underlying growth rose by 4.7%.

Owen Killian, Aryzta’s chief executive, said: “Q3 revenue development confirms an improving trend in all regions.

“All outstanding long-term contract renewals are now signed, adding greater visibility to our revenue and validating Aryzta’s investment in the long-term customer partnership model.”

Looking ahead, Killian added: “H2 margin weakness remains in-line with expectations and guidance; we have identified further potential for improved group-wide efficiencies and cost reduction initiatives.”

Aryzta Food Solutions launched a limited-edition strawberry and cream muffin last month, which will available from June as part of the Cuisine de France range.

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