Aryzta Reports Sales Decline But Remains On The Lookout For Acquisitions

Switzerland-based bakery group Aryzta has posted a drop in sales for the first half of its financial year. In the six months to January 31 Aryzta's revenues dropped by 7.4% to EUR800.9mn. Operating profits for the period stagnated to come in at EUR107mn while net profits edged up by just 1.1% to EUR73.8mn. Prior to the economic downturn Aryzta was consistently posting double-digit revenue growth on the back of strong demand for frozen and part-cooked bakery products. However, sales have been hit by consumers trading down and in the six months to January 31 the company's revenues declined in both

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