Aryzta first-quarter sales were up by 17.8% year-on-year thanks to the “strong” contribution from acquisitions and growth in Europe’s retail sector.
The Swiss-based baker said revenue from its operations rose to EUR937.8m (US$753.9m). Including the impact of a reduced contribution of its Origin joint venture business, sales increased at the slightly slower pace of 13.8% in the period.
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Gains were driven by a 30.5% jump in sales at its North American business, where acquisitions offset a 3.2% drop in organic growth. Aryzta said that underlying sales were down largely as a result of its SKU rationalisation process, which aims to free up capacity for larger customers.
In Europe, the company said underlying revenue increased 3.1% and acquisitions contributed 2.7% to the top line. “The trends in Europe remain positive, reflecting improving stability in Aryzta Food Solutions and strong growth within large retail,” the company said.
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