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Aryzta reports 6.8% rise in annual revenue

Aryzta owns a variety of baking firms and brands
Aryzta owns a variety of baking firms and brands

Swiss/Irish baked goods group Aryzta has reported revenues of €4.8bn for the year to the end of July, a 6.8% rise on the same period of last year.

The company, which owns brands including Cuisine de France and Otis Spunkmeyer, recorded a pre-tax profit of €481.5m during the year - up 16.3% on last year.

Its food business in Europe grew by 14% during the twelve months to be worth almost €1.6bn, according to the firm, while its North American business grew by 8.7% to €1.59bn.

In the rest of the world, however, Aryzta's market declined by 5.7% to €221m.

In addition to its own brands, Aryzta is a majority shareholder in Origin Enterprise.

It also supplies Tim Horton's with "par-baked" frozen products that are finished in-shop, after buying out in 2011 the North American chain's 50% holding in an Ontario factory they owned together.