Swiss Irish baked goods group Aryzta has reported a total revenue decline of 3.5% to €621.9m in the three months to May - its fiscal third quarter.
Aryzta said it continues to make good progress with its strategic plan, and it completed the disposal of the equity and assets of its North American business in the US and Canada to an affiliate of Lindsay Goldberg last month.
The company said the net proceeds received are expected to be about €650m subject to finalisation of the purchase price.
Aryzta said it would not provide guidance given ongoing challenges and uncertainty surrounding Covid-19 and the reopening of economies where it operates.
Its chair and interim CEO Urs Jordi said the swift conclusion of the Aryzta North America disposal in the period and a resumption of organic growth underscores the progress being achieved in a short time.
"While Q3 revenue development was positive in terms of volume and price/mix for continuing operations across the majority of our markets, some have yet to turn positive and work is actively ongoing to accelerate this," Urs Jordi said.
The company also said today that it had appointed Martin Huber as its new Group Chief Financial Officer.
He will replace Jonathan Solesbury, who has been interim CFO of Aryzta since November 2020.
Mr Huber, a Swiss national, joins Aryzta from Nestlé, where he was most recently the CFO of Nespresso. He will take up the new job in August 2021.
