Food group Aryzta said its total food revenue increased by 3.6% to €748.6m in three months to the end of April.
Aryzta said that its European markets remain very challenging, due to the weak consumer dynamics in the region and widening government austerity measures.
The company said that revenues in its Food Europe division rose by 4.3% in the third quarter to €329.6m. It said this was due to a 7% positive impact from the purchase of Klemm, which was partly offset by currency movements.
It said that underlying growth in Europe fell by 1.9% due to pricing induced volumes declines on the back of regional raw material inflation.
Revenues in its Food North American division increased by 3.4% to €361.1m due to favourable currency movements and acquisitions, while the Food Rest of the World division recorded revenue growth of 0.9% to reach €57.9m.
Aryzta's chief executive Owen Killian said that the revenue growth was ''satisfactory'' in the quarter.
''However underlying revenue was impacted by some volume loss following price increases in Europe and the discontinuing of Direct Store Distribution in the US,'' he said.
He said the company remains ''fully focused'' on the Aryzta Transformation Initiative, which ''involves an enormous investment in change management to ensure our future customer relevance.
