Swiss-Irish bakery giant Aryzta has posted a 6.1% increase in revenue for the first quarter of the year, to €995 million.
Growth at the Cuisine de France parent was mainly driven by currency movements (+5.8%), as well as acquisition growth (+0.7%) and offset by negative underlying growth (-0.4%).
Its Food Europe business saw revenue grow 9.5%, including underlying revenue growth of 5.5%.
It said that its Hiestand Switzerland business 'has commenced consultation ahead of the well planned phased transfer of some production volumes to Coop in Switzerland, which was first announced in 2011'. This phased transfer will take place post the FY 2016 year-end.
Its Food North America operation posted an underlying revenue decline of 5.6%.
On the group's European business, Aryzta chief executive Owen Killian said " In Europe, Bakeries continued to outperform while Aryzta Food Solutions remains weaker due to some channel weakness as previously discussed. […] Consumer sentiment is more muted in Europe although our business in Ireland and the U.K. returned to growth in the period.”
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
