Baked foods group sees profits rise

Irish-Swiss baked foods group Aryzta has reported a near-7% rise in annual revenues, with the contribution from acquired subsidiaries growing almost 12% on the previous year.

Aryzta — established via the 2008 merger of IAWS and Swiss group Hiestand — yesterday said that group revenue for the 12 months to the end of July amounted to just over €4.8bn, a 6.8% rise on the previous year.

Group earnings before interest, tax, and amortisation increased 19% to €566m and underlying net profits amounted to €378m, an 18.3% jump on the preceding 12 months. Underlying fully diluted earnings per share increased 17.2% to 422.2c.