Aryzta Food North America EBIT up in first half
March 15, 2011
by Eric Schroeder
ZURICH, SWITZERLAND — EBIT within the Food North America segment of Aryzta AG in the first half ended Jan. 31 rose 118%, boosted by growth in the retail and quick-service restaurant segments. EBIT in the division, which includes the La Brea Bakery and Otis Spunkmeyer businesses, totaled €76,953,000 ($107,474,000), up from €35,271,000 in the same period a year ago. Sales rose 140% to €610,500,000 ($852,702,000).
“Growth during the period has been most evident in the retail and quick-service restaurant segments, with continued focus on product and value-added innovation,” Aryzta said. “Customer centric business combination initiatives have commenced, which are support by ATI (Aryzta Technology Initiative).”
On a companywide basis, Aryzta EBITA in the first half of fiscal 2011 was €173,118,000 ($241,947,000), up 52% from €114,013,000 in the same period of fiscal 2010. Sales rose 36% to €1,894,272,000 ($2,647,414,000).
“While the major feature of these results is the enormous contribution from our recently acquired businesses, we are most encouraged by the improvement in underlying revenue growth as consumers adjust to improving economic circumstances in most markets,” said Owen Killian, chief executive officer of Aryzta. “We have initiated business combination projects in Europe and North America, which, as we roll out the Aryzta Technology Initiative (A.T.I.), will create the opportunity to unlock the potential within our enlarged customer base.
“The speed and severity of food raw material price increases was unexpected and is again a major focus in the business. In such an inflationary environment, bakery plays an important role in a food menu or basket and provides an innovative value proposition for consumers.”