Aryzta Posts Fall In Underlying Sales, Warns On Current Year

Switzerland-based bakery group Aryzta has posted a mixed set of results for its latest financial year, ending July 31 2009. Over the period, total revenues climbed by 2.5% to reach EUR2.31bn, while net profits were up by 18% to EUR149.3mn. However, underlying sales, which strip out the impact of acquisitions and currency movements, were down by 3%, with the firm revealing that underlying revenue growth had swung from double-digit growth to a decline over the last year. CEO Owen Killian has revealed that revenue growth remains the firm's key concern and has warned the company's earnings over the next 12

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