Thursday 21 September 2017

Breadmaker Aryzta on track for double digit growth

Assortment of Breads, Rolls and Croissants
Assortment of Breads, Rolls and Croissants
Louise Kelly

Louise Kelly

Swiss-Irish firm Aryzta saw a 6.5pc increase in revenues from its food business to €796.3m in the company’s first fiscal quarter. .

The baked goods producer said the return was achieved despite currencies, particularly the dollar, moving against it.

According to today’s trading update, Aryzta’s Food Europe division grew significantly by 17.6pc in the three month period to €377.6m.

Meanwhile, the company’s Food North America revenue dropped by 0.9pc to €364.2m and revenues in the Food West of the World division suffered a decline of 7.4pc to €54.5m.

The bread manufacturer said that this was due to the impact of negative currency movements.

Nonetheless, Aryzta reiterated its guidance for double digit earnings per share growth for the year.

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