Interim Profits Rise at Aryzta

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Interim Profits Rise at Aryzta

Interim Profits Rise at Aryzta
March 12
11:49 2012

Aryzta, the Switzerland-based global speciality bakery group, has reported a 3.3% rise in EBITA to Eur178.8 million on revenue up 0.9% to Eur1.91 billion for the six month period ended 31 January 2012, as its Food Group increased EBITA by 11.3% to Eur173.0 million and revenue by 9.4% to Eur1.40 billion.

Aryzta has operations in North America, South America, Europe, Asia, Australia and New Zealand. It is also the majority shareholder (71.4%) in Origin Enterprises, the agri-services group with interests in food and marine proteins and oils. Revenue at Origin Enterprises declined in the period by 17.0% to Eur507.4 million and EBITA fell by 66.8% to Eur5.9 million.

Aryzta’s Food Europe business increased EBITA by 12.4%.to Eur74.2 million on sales up by 7.5% to Eur629.0 million.

Owen Killian, chief executive of Aryzta, comments: “Underlying performance was robust despite challenging trading conditions. 2012 remains a critical year of transformation for Aryzta with significant ATI driven change underway across the group to enhance our customer centric focus. This, combined with our strengthened balance sheet, will enhance future shareholder value from growth with existing customers and sector consolidation opportunities.”

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