Aryzta shares slump on fears for European sales

Revenues at food company Aryzta climbed by more than 13% to over of €970m over the three months to the end of April despite flat trading in one of its core markets.

Underlying revenue growth declined by 2.3% in the period but was more than offset by acquisitions which provided a 3.1% bounce and growth from currency movements of 12.4%.

Shares in the Swiss-Irish firm fell by more than 8% yesterday afternoon after the release of the company’s trading update.