Aryzta revenues rise marginally
Revenues at bakery group Aryzta increased by almost 1 per cent to €1.91 billion in the six months to the end of January.
The Zurich based firm reported that revenues in its food division were up 9 per cent to €1.4 billion as sales increased in Europe (7.5 per cent) and North America (9.6 per cent).
Aryzta said earnings before interest and tax in its food division increased by 11.3 per cent to €173 million. This was also driven by improved performance in the European and North American markets.
Revenues at Origin - Aryzta’s Irish, UK and Polish agri-services business - fell by 17 per cent to €507.4 million and underlying net profit fell by 42.6 per cent.
Earnings before tax and interest fell by 66.8 per cent, with the company saying that Origin’s performance was “to expectation” following repositioning.
"Underlying performance was robust despite challenging trading conditions," Aryzta chief executive Owen Killian said. "[This year] remains a critical year of transformation for Aryzta with significant ATI driven change underway across the group to enhance our customer centric focus."
Aryzta said guidance for earnings per share remained unchanged at 338 cent for full year 2012 and more than 400 cent full year 2013.
Shares in Ayzta were trading unchanged on the Dublin market at €36.15 at 8am.