Swiss bakery ARYZTA has booked an increase in full-year profits, boosted by a focus on operating efficiencies, cost management and innovation.
For the year to the end of July, operating profit rose 2.2% to reach EUR305m (US$411m), while EPS increased 4% to 244 cents. Revenues, however, slid 8.6% to EUR3.01bn.
Aryzta CEO Owen Killian said economic conditions for consumers remain “very challenging”.
“Aryzta has responded by continuing to focus on operating efficiencies, cost management, innovation and cash flow generation, while working alongside its retail and foodservice partners to provide fresh and convenient, high quality baked goods at competitive prices,” Killian said.
“The operating environment is likely to remain difficult in many key markets. Aryzta’s business model is therefore focused on operational resilience, while remaining well positioned to benefit from any economic recovery.”
In the firm’s food division, operating profit rose 4% to reach EUR227m, while revenues dropped 6.7% to EUR1.68bn.
Click here for the full earnings statement from Aryzta and click here for coverage of the company’s conference call with analysts.