Dublin-based food group Aryzta has reported a 7 per cent rise in group revenues to €2.43 billion for the nine-month period ending April 25th.
The group, formed following the merger of IAWS and Swiss bakery group Hiestand, said it remains on target to achieve average earnings per share of €2.14 for the year.
Chief executive Owen Killian said consumer sentiment had deteriorated over the period “resulting in lower consumer spending”.
He said sales volumes in Ireland and the UK were weaker while revenue growth in its other principal European markets of France, Switzerland and Germany.
The company said its Grangecastle bakery, distribution and research and development centre was now fully commissioned and operating efficiently.
Aryzta owns 71.4 per cent of Origin.
Aryzta added that is US units, Otis Spunkmeyer and La Brea Bakery, were responding well to the difficult economic conditions.
At 9am shares in Aryzta were up 1.4 per cent at €10.95.