Aryzta sees Q1 revenues rise by 14%

Contributions from recent acquisitions have continued to drive growth at Irish-Swiss baked food group, Aryzta into its current financial year.

The group, which owns the popular Cuisine de France brand and which was established through the 2008 merger of IAWS and Swiss group, Hiestand, yesterday reported total group revenues of nearly €1.26bn for the first quarter of its financial year, to the end of October. That figure, up by 13.8% year-on-year, includes the contribution of agribusiness Origin Enterprises, of which Aryzta is the majority shareholder, and was helped by a 12.9% growth contribution from acquisitions.

Aryzta’s core food business generated first quarter revenues of €937.8m, showing underlying organic growth of just 0.5%, but acquisition-led growth of 15.5%. Overall, food revenue was up by 17.8% year-on-year. North American revenues were up by over 30% and Aryzta’s Food Europe division saw growth of 7%.