ARYZTA, a global food business with a leadership position in convenience bakery, has reported on its Q3, 2023 results, showing growth across multiple sectors, according to a company statement.
Despite stronger quarterly growth comparatives, organic growth was broad based across the group with France, Switzerland, Poland and Germany performing well in Europe. Rest of World continued its strong performance trend evident in recent quarterly updates. Channel performance trends remain unchanged across all channels lead by Foodservice and QSR, while in our European retail channel the company continues to gain market share supported by its strong customer and category focus.
While some input costs have fallen back from their peak levels, volatility remains high and overall input cost prices are still above their long term average cost. Inflation trends for labour, purchased services, transportation and some bakery ingredients like sugar, proteins, especially eggs continue to increase significantly, compensating reductions in other ingredients like flour and butter.
The industry continues to face persistent inflation which necessitates pricing action. ARYZTA’s disciplined costs management programs and efficiencies measures continue to deliver to expectation, supporting margin progression, the statement reads.
Find out more at: https://www.aryzta.com/