Aryzta bounces back as revenue rises 25%

Bakery giant Aryzta has reported a strong rebound in its latest financial results, with revenue jumping 25% to €963.5 million in the six months to 31 January.

The company, which owns brands such as Cuisine de France, La Brea Bakery and Otis Spunkmeyer, said the increase was driven by strong demand for its products across all regions.

Aryzta's chief executive Kevin Toland said the results were "a testament to the hard work and dedication of our team".

Key highlights from the results:

• Revenue rose 25% to €963.5 million
• Underlying EBITDA increased 45% to €113.3 million
• Net income increased from a loss of €74.6 million to a profit of €20.2 million
• The company reduced its net debt by €100 million to €350 million

Aryzta has been through a tough period in recent years, with the company issuing a string of profit warnings and undergoing a major restructuring.

However, the latest results suggest that the company is now back on track. Toland said that Aryzta is "well-positioned for continued growth in the future".

Analysts react to the results:

Analysts have welcomed the results, saying that they show that Aryzta is making progress in its turnaround plan.

"These are strong results from Aryzta," said one analyst. "The company is clearly benefiting from the cost-cutting measures it has implemented and the strong demand for its products."

Another analyst said that the results were "a vindication of the company's strategy".

"Aryzta has been through a tough time in recent years, but these results show that the company is now on the right track," the analyst said.

Share price reaction:

The news was welcomed by investors, with Aryzta's share price rising by 10% in early trading.

The share price has now recovered to the levels it was at before Aryzta issued its first profit warning in 2018.