Food group’s profits surge 13%

Irish-Swiss food group Aryzta has reported a strong set of annual results, including a near 13% increase in profits, but has warned about the threat of continuing weak consumer spending levels and rising food inflation.

The group — which emerged in 2008 from the merger of IAWS and Swiss bakery giant Hiestand — yesterday reported earnings before interest, tax and amortisation of €444.1m for the 12 months to the end of July, a 12.9% yearly increase. Group revenue was also up solidly — by 8.5% — to €4.21bn, while underlying fully diluted earnings per share were up by just under 9% to 337.5c.

Pre-tax profits rose from just over €333m to €376.3m.