Switzerland: Bakery group Aryzta Q1 sales up

Aryzta has increased Q1 sales by 0.4% to EUR 1.10bn (US$ 1.48bn).

Aryzta, which supply retailers and food service outlets with bakery products, saw sales improve by 0.4% over the three month period to total EUR1.10.bn (US$ 1.48bn). Food sales in Europe performed particularly well, growing by 17.6% to reach EUR 377.6m (US$ 511.1mn), Just Food reports.

Aryzta said the development and execution of its "customer-centric business model" underpinned "further expansion" in underlying growth in all regions during the period.

Despite the strong performance in Europe, sales in North America fell by 0.9% dropping to EUR364.2m (US$ 492.9mn), while the firm’s rest of the world division sales also dropped by 7.4% to EUR 54.5m (US$ 73.8mn). According to Just Food, both declines were the result of negative currency movement. Aryzta has reiterated its guidance for double digit earnings per share growth for the full year.

Source: Just Food