Aryzta AG: announces 15,7 percent drop in sales

Zurich / CH. (aag) Aryzta AG said in a trading update that sales have dropped 15,7 percent to 729 million EUR in the three months to October, in line with expectations for the first quarter of 2010. In its statement the firm said food revenue fell 8,4 percent, following trends in 2009. In Europe, food revenue fell by 11,4 percent during the period due to tough trading conditions in the United Kingdom and Ireland, where the revenue decline widened to 25 percent. Weak spending in its other European markets – Switzerland, Germany, France and Poland – impacted revenue, but the firm said it had expanded its channel penetration. In North America, food revenue fell 2,1 percent, compared to a growth of 19,5 percent in the same quarter a year earlier.
Info: Aryzta AG – First Quarter Trading Update for the period ended 31 October 2009 (PDF, four pages, 84 KB).