Aryzta has reported a 25.6% increase in organic revenue in its European operations in the third quarter of its financial year.
The bakery giant outlined that, at group level, the business reported ‘strong’ organic growth of 22.6% in the quarter, with total continuing revenue up by 20.1%, to €433.9 million.
Following on from a strong first half, its third-quarter performance was driven by volume growth of 15.6% and a price mix improvement of 7.0%.
Organic Growth
Urs Jordi, chair and interim CEO, commented, “While the Q3 organic growth performance is strongly volume driven, significant progress was also achieved in terms of positive pricing and mix contributions. This reflects the continuous engagement with our customers around the widespread inflationary trends through price and increased innovation activity, to improve mix contribution.
“We remain fully focused on delivering continuous business performance improvement to ensure we keep abreast of the volatile input environment and its challenges. The positive organic volume and price revenue development trend has sustained into Q4 and supports an increase in full-year organic revenue growth guidance to 14-16%.”
Normal Consumer Socialisation
In the nine-month period, Aryzta noted that it benefitted from a return to normal consumer socialisation activity, resulting in significant outperformance by its foodservice division, which achieved organic revenue growth of 38.1%, driven by a very strong performance in France.
Aryzta highlighted that it will host a Capital Markets Day on 8 June 2022, in Dagmersellen, Switzerland.
© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.
