Swiss bakery group Aryzta has booked a jump in full-year earnings, boosted by acquisitions and a strong performance in the developed markets of Europe and North America.
In the 12 months to 31 July, the company said group net profit increased by 18.3% to EUR378m (US$479m). Group-wide EBITA rose 19% to EUR566m. Group sales increased 6.8% to EUR4.81bn.
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Aryzta’s food business, which strips out agribusiness joint venture Origin Enterprises, saw EBITA increase of 19.6% to EUR486m. Within this division, operating profit from Europe was up 23.8% and North America saw EBITA rise 21%. These gains were partially offset by a drop in profit from the rest of the world, which fell 15.7%.
Aryzta’s performance was supported by acquisitions in North America and Europe. The firm purchased Pineridge Bakery in Canada, Cloverhill Bakery in the US and German baker Klemme.
Aryzta CEO Owen Killian said: “Food group revenue increased by 10.0%, despite an adverse currency movement of -3.7%. Underlying revenue increased by 2.1% and acquired businesses contributed an excellent 11.6% increase in revenue during the period.”
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