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SW
Aryzta To Review Options For Germany As H1 Growth Slows
['Dayeeta Das']
ESM Magazine
Swiss-Irish bakery firm Aryzta has announced that it is reviewing its options for Germany as the division weighed on its overall first-half performance.
Aryzta added that Germany was the 'most challenged' market due to price sensitivity, which reflects fragile consumer spending, among other factors.
Performance HighlightsAryzta's Rest of World business generated revenue of €121.2 million in the first half, registering organic growth of 2.7%.
ADVERTISEMENTIn Europe, revenue amounted to €942.7 million, with organic growth down 3.4% due to negative volume/mix and pricing effects.
OutlookAryzta expects organic growth at the lower end of the guidance range and improvement in EBITDA and EBIT compared to last year.