Swiss-Irish baked goods firm Aryzta has reported strong organic revenue growth in the three months to the end of October.
The owner of the Cuisine De France brand had total revenue of €424.9m in its fiscal first quarter, down sharply on the €672.6m recorded in the same period of last year.
However the company has sold a sizable portion of its business since then, as part of a dramatic down-sizing of its operations that has been at the heart of a major restructuring plan.
Aryzta said its organic revenue from its continuing operations was 9.8% higher year-on-year, with its core European business driving most of that growth.
"The combination of strong volume recovery, positive price/mix in the period reflects the benefits of our new lean multi local business model," said Aryzta chair and interim CEO, Urs Jordi. "Customer engagement has increased around innovation, product mix changes and service levels.
"We are continuously working on cost mitigation measures to further improve our lean and efficient structure. In conjunction with pricing we are improving our mix of higher margin product through innovation."