Aryzta, the bakery group formed by the merger of IAWS and Hiestand, today (22 September) reported full-year pro-forma operating profit of EUR262m (US$381.53m) on the back of pro-forma revenue of EUR3.13bn.
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Aryzta was listed on the Irish and Swiss stock exchanges on 22 August, after the completion of the merger between Irish baker IAWS and Swiss partner Hiestand.
Earnings per share totalled EUR2.02, the newly-enlarged group said.
Commenting on the results, Aryzra CEO Owen Killian said the results of the combined company reflect the enlarged base from which Aryza will grow and develop.
“The results for Hiestand for the six months to 30 June 2008 and the IAWS results for the year to 31 July 2008 demonstrate the growth momentum now channelled into Aryzta from both food businesses,” Killian said.
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By GlobalData“The food businesses have experienced continued consumer demand across all channels for their always fresh and convenient food offerings,” he said.
Killian also highlighted the strong performance of Origin Enterprises, which is 71.4% owned by IAWS. He said the company benefitted from strong performance in agricultural markets and acquisitions in the period.
