Disappointing figures hit Aryzta growth hopes
The Zurich-headquartered group — which grew out of the 2008 merger between IAWS and Swiss firm Hiestand — yesterday reported decent earnings and revenue growth for the first half of its financial year, but failed to meet market expectations due to slower growth in its North American operations.
On a group-wide basis — which takes into account its majority stake in agri-business group Origin Enterprises — Aryzta generated revenues of nearly €2.4bn during the six months to the end of January, a 13.6% increase on the year-earlier period. Group earnings were ahead by 15.5%, year on year, to €229m.
