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Aryzta Q1 Revenues Down; Reports Sequential Improvemnts

Swiss bakery business Aryzta AG (ARZTY.PK,ARZTF.PK) reported Tuesday that its first-quarter revenue was 672.6 million euros, down 20.3 percent from the previous year.

Organic revenue in the quarter declined 15.4 percent.

ARYZTA said it registered gradual improvements over the period compared to preceding fourth quarter of fiscal 2020.

ARYZTA Europe revenues declined 19.4 percent from last year to 333.3 million euros, and North America unit recorded 21.4 percent drop in revenues to 282.5 million euros. Rest of World region reported 20 percent drop in revenues to 56.8 million euros.

The company reported improvements in QSR and Retail channels offset by COVID-19 related declines in Foodservice.

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