Revenues at Cuisine De France parent Aryzta rose 6.8% to €4.81 billion in the full year to 31 July, according to accounts just filed.
The bakery giant's Food Europe division, which includes the Cuisine De France business, posted revenue growth of 14% for the period (underlying growth of 2.1%) to €1.56 billion, driven by the purchase of the Germany-based Klemme bakery business.
EBITA at the Food Europe business increased 23.8% to €230 million. According to the company, the business boasts 'a diversified customer base including convenience retail, gas stations, multiple retail, restaurants, catering, hotels, leisure and QSR'.
Commenting on the results, ARYZTA AG Chief Executive Officer Owen Killian said: “ARYZTA has delivered a strong performance for FY 2014, with an increase of 17.2% in underlying fully diluted EPS in the final year of our three year transformation. Food Group revenue increased by 10.0%, despite an adverse currency movement of (3.7)%. Underlying revenue increased by 2.1% and acquired businesses contributed an excellent 11.6% increase in revenue during the period."
Goodbody's Liam Igoe said that the performance of the Food Europe business "reflected a slowdown from the strong 4.1% in Q3 to 1.2% in Q4. Growth in the year was aided by the performance of the in-store bakery sector, reflecting the growth within Klemme’s customers."
Aryzta did not reveal the sales totals for its Irish business in its its report.
© 2014 - Checkout Magazine by Stephen Wynne-Jones
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