Aryzta, the food company formed by the merger of IAWS and Swiss bakery group Hiestand, says its operating profit for the year ending July rose by 2.2% to €305m.
Revenues for the year fell by 8.6% to €3.01 billion as the company said that economic conditions for consumers remain very challenging.
The company is proposing a dividend payout of 36.6 cent and warned that the operating environment is likely to remain difficult in many key areas.
'Aryzta's business model is therefore focused on operational resilience, while remaining well positioned to benefit from any economic recovery,' commented company chief executive Owen Killian.
