Aryzta North American food group sales slip in quarter

by Eric Schroeder
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ZURICH, SWITZERLAND — Revenue within the Food North America group at Aryzta A.G. eased 0.9% in the first quarter ended Oct. 31, to €364.2 million ($492.4 million), the Zurich-based company noted in a Nov. 25 trading update. Underlying revenue growth contributed 1.7 percentage points to growth while acquisitions added 3.1 points. Currency had a negative impact of 5.7 points during the period, Aryzta said.

Overall, total Food Group revenues totaled €796.3 million ($1,076.5 million) in the quarter, up 6.5% from the same period a year ago.

“The Food Group remains on track to substantially complete its transformation program (A.T.I.) by the end of FY 2014, and the group is well placed to take advantage of potential consolidation opportunities across the sector,” said Owen Killian, chief executive officer. “The development and execution of Aryzta’s customer centric business model underpinned further expansion in underlying growth in all regions during the period. The Sept. 30 guidance for double-digit fully diluted e.p.s. growth remains unchanged.”
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