Aryzta sees 7% rise in revenue to €2.43bn

DESPITE declining consumer spending and sentiment patterns Irish-Swiss food group Aryzta saw a 7% rise in revenue, to €2.43 billion for the nine months to the end of April.

The period in question – basically the first nine months of trading since last summer’s merger between the Dublin-headquartered IAWS Group and the Zurich-based bakery business, Hiestand – showed a slowing in revenue across all geographical markets, but was boosted by a 22.7% rise in its North American operations. Acquisitions contributed to more than 11% of group revenue for the nine months.

However, the group’s core European food market saw a 1.4% like-for-like drop in revenues for the period, to €848.9m. On a positive note for its European operations, Aryzta’s new bakery, distribution and R&D facilities at Grangecastle in Dublin have now commenced operations, “substantially” enhancing the group’s baking capability and capacity.