Aryzta has posted a 15% jump in first-half profits, boosted by sales and profits growth at its North American businesses.
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The Switzerland-based frozen baked goods giant, which was formed last year after the acquisition of Switzerland’s Hiestand by of Ireland’s IAWS, said adjusted diluted earnings rose to EUR84m (US$107.5m) in the six months through January, up from EUR72.8m in the comparable period of last year.
Total sales increased 16% to EUR1.57bn, the Zurich-based company said yesterday (9 March).
The company’s European businesses posted an 11% rise in profits, to EUR64m, on revenue growth of just 2.8%. In North America, Aryzta’s performance was stronger, with profits up 25.9% to EUR34.3m on revenue growth of 16.6%.
Looking to the full year, CEO Owen Killian said that the economic downturn meant that revenue growth was less predictable. However, he emphasised that the company remained focused on earnings growth.
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By GlobalData“The business is very resilient and has displayed excellent defensive characteristics in the current challenging economic climate,” he said.
“The business model conveys substantial benefits to customers through reduced costs to serve and brings an unrivalled range of high-quality, freshly baked goods to hard-pressed customers at affordable prices.”
