Shares in food company Aryzta rose in Dublin today after it reported revenues of over €3 billion for the first time during the 12 months to the end of July.
Revenues for the year rose by 7.6% to €3.086 billion while earnings before loan interest, tax and depreciation increased by 8.5% to €406.7m.
Aryzta was formed by the merger of Irish company IAWS and Swiss company Hiestand. Its bakery products include the well-known Cuisine de France brand.
In the five years since its merger, the company has more than doubled its earnings and has almost doubled revenue.
See how Aryzta shares are doing in Dublin trade
Commenting on the results, Aryzta chief executive Owen Killian said they were ''robust'' and were achieved despite the challenges faced by a prolonged consumer recession and highly volatile food inflation.
''Underling revenue growth remained positive, and the improved diversification of our channel mix should improve the sustainability of this growth,'' Mr Killian said.
The company said that revenues in Europe for the year rose by 9.3%, while North American revenues increased by 6.5% and sales in the rest of the world rose by 5.7%.
Earnings in Europe were up 9.7%, while they rose by 7.9% in North American and by 4.7% in the rest of the world, the company added.
