Strong showing in American arm helps Arzyta post €247m pre-tax profits

A STRONG showing from its north American operations has helped Irish-Swiss bakery group Aryzta post a strong set of full-year results, despite under-performance in its core European division.

Overall pre-tax profits, for the 12 months to the end of July, came in at €247.3 million, compared to just over €218m the previous year. Overall group revenue was up by 2.5% at €3.21 billion; although underlying revenue was down by 3%. The group – formed by the 2008 merger of IAWS and Swiss group, Hiestand – has also proposed a dividend per share of 35.2c for shareholders.

Yesterday’s figures came on the same day that Irish agri-food group, Origin Enterprises – in which Aryzta holds a 71.4% stake – posted an 8.5% rise in full-year profits and declared an inaugural dividend for shareholders.