Aryzta North American food sales rise 12%
by Eric Schroeder
ZURICH, SWITZERLAND — Revenue within the Food North America division at Aryzta A.G. rose 12% to €349.3 million ($434.9 million) in the third quarter ended April 30. For the nine months ended April 30 sales were up nearly 11% to €1,018.6 million ($1,268.3 million).
“Underlying revenue grew by 6% in the 13-week period, with 9-month underlying revenue growth of 7%,” the company said in a June 5 trading update. “This strong performance in the context of the macro environment reflects the benefit of prior period acquisitions, which increased exposure to the higher growth L.S.R. (limited-service restaurant) channel in North America.”
Total Food Group sales rose 11% during the quarter to €722.6 million ($899.8 million), while Total Group sales climbed nearly 15% to €1,174.2 million ($1,461.9 million).
“The results reflect the benefit from previous acquisitions and improvement in channel mix,” said Owen Killian, chief executive officer. “Weak consumer demand in Europe depressed underlying revenue in the period. Progress on Aryzta’s Transformation Initiative (A.T.I.) continues to support performance, and this remains an essential focus.”