Falling demand hits Aryzta sales

FALLING demand in Ireland and Britain reduced sales at Aryzta by 8.4%, worse than analyst expectations.

In those two markets sales were off 25% while Goodbody Stockbrokers had expected a decline of just 10%.

Formed from the merger of IAWS and Swiss bakery group Hiestand, Aryzta said food sales across the group fell 16% to under €730 million in the first three months of its financial year to end October 2009.