Aryzta group revenues grow 8.2 per cent
Swiss bakery business expects to return double digit earnings growth for full year
Group revenue at baked goods' producer Aryzta rose 8.2 per cent to ¤2.07 billion for the six months to the end of January 2013.
The company’s net profit also increased, rising 5.6 per cent to ¤129.4 million, while earnings per share were up 0.5 per cent to 146.6 cent.
The Zurich-based company said it expects to return double digit earnings growth for the full year.
Revenues at the company's European food division grew 4.6 per cent, while the company’s North American revenues gained 10.6 per cent.
Chief executive Owen Killian said Aryzta’s underlying net profit performance was “robust” despite challenging trading conditions.
“Good progress on net debt reduction was also achieved despite significant ATI related investments. Aryzta expects to complete its ATI programme as planned in FY 2014 to enhance its customer centric strategy.”