Swiss-Irish food group Aryzta recorded a welcome 0.3% increase in revenues for the three months to October to €862m - the company's first positive results in three years.
It comes as the company, which owns Cuisine de France here, is in the middle of a cost-cutting programme as it attempts to reduce debt and restructure.
Earlier this month Aryzta shareholders narrowly approved a €790m share issue to shore up the company's balance sheet.
Aryzta's chief executive Kevin Toland said the company continued to address the challenges facing the business during the three month period.
"We remain resolutely focused on our core, the frozen B2B bakery market and have the management team and resolve to implement what is a multi-year turnaround strategy," Mr Toland said.
He said the recent capital rise will reduce Aryzta's debt and provide the necessary capital to implement Project Renew, which aims to achieve €90m of annual savings by 2021.
"This stronger capital structure and improved liquidity will allow the management team to transition from a position of perceived commercial stress to a position of stability and instead to focus on strengthening our customer relationships, enhancing our operating efficiency, ongoing deleveraging of our balance sheet and, in time, returning the business to performance and growth," he added.
Shares in the company moved higher in Dublin trade today.
