Aryzta AG: says earnings are still on track

Zurich / CH. (aag) Do you look into Irish newsletters, you read that «Dublin-based» Aryzta AG has reported a seven percent rise in group revenues to 2,43 billion EUR for the nine-month period ending April 25th. The group, formed following the merger of Irish IAWS and Swiss bakery group Hiestand Holding, said in a statement that it remains on target to achieve average earnings per share of 2,14 EUR for the year. The same statement assumes, that Aryzta´s head office is still in Zurich, Switzerland.

But now let´s have a look into Aryzta´s «Trading Update for the nine months ended 25th April 2009». The Zürich-based company is a global leader in speciality bakery with geographic reach from North America through Europe to South East Asia and Australia – and here is the summary:

Commenting on the performance Aryzta-CEO Owen Killian said: «Consumer sentiment continued to deteriorate resulting in lower consumer spending in most channels. This combined with the continuing credit crunch poses challenges for most of our customers. Revenue growth has slowed in all markets and was negative in our food business in Europe. We continue to focus on cash and after nine months, we remain on target to achieve consensus EPS for the current year».
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