Newly formed specialist bakery group Aryzta has reported pre-tax profits of €218m for the year ending July 31. Revenues amounted to €3.13 billion for the 12 month period.
Aryzta was formed through the merger of Ireland's IAWS group and Switzerland's Hiestand group earlier this year.
Breaking down today's figures, they show that IAWS made pre-tax profits of €186.7m for the year, while revenues jumped by 39.5% to €2.66 billion.
IAWS said that revenues in its European food division rose by over 9%, while turnover at its US operations rose by 14%.
IAWS bought Swiss company Hiestand in a deal worth around 4 billion Swiss francs to form one of the world's biggest baked good companies in June.
The firm said it is confident its business model will deliver benefits to customers and is well placed to deliver future earnings growth.
Aryzta shares closed down 10 cent at €33.50 in Dublin this afternoon.
