Manufacturing & Supply Chain

Aryzta see’s its shares fall by 5.7 per cent

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Aryzta see’s its shares fall by 5.7 per cent

Aryzta see’s its shares fall by 5.7 per cent
March 14
11:30 2016
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Aryzta the Swiss-Irish food group saw its shares fall as much as 5.7 per cent in early morning trading on Monday after the company admitted growth will be erratic over the next 18 months.

Aryzta said it saw revenues rise 5.5 per cent to €1.96 billion during the six months to the end of January, on the back of a increases sales of speciality foods.

Owen Killian CEO at Aryzta, said free cash flow remained strong in the period.

“Speciality food is a growth segment of the overall food market in Europe and North America where consumer demand was positive in the period. Aryzta is well-invested and well-positioned to grow, because its recently invested infrastructure is the most relevant and most competitive for this market,” Mr Killian said.

The Aryzta chief continued, saying the firm was confident of meeting its strategic goals set for 2020.

“We are focused on establishing a sequential growth pattern and view short-term earnings guidance as less relevant, until we deliver on this priority,” he said.

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