Q3 revenues at bakery group grow by almost 15%

Third-quarter revenues at Irish-Swiss bakery group Aryzta grew by almost 15% boosted largely by its better-performing north American operations.

Group revenue — covering the three months to the end of April — amounted to just under €1.2 billion; a 14.9% year-on-year increase. This growth comprised a 10.8% revenue increase for its total food business and a 6.7% rise in revenue in its Food Europe division. However, on an underlying basis, revenues in that arm fell by 2.6% on a like-for-like basis.

In its summation of its latest quarterly performance, Aryzta said that the Food Europe segment continues to be “one of the most challenging trading environments within the group, with both political and economic uncertainty continuing to dampen consumer confidence”.