Aryzta: growth in line with expectations in the first quarter

Industrial bakery group Aryzta achieved slight organic growth in the first quarter, in line with expectations. Positive price and volume effects were offset by an unfavorable, but improving, product mix. Geographically, the positive evolution of sales in Europe compensated for a certain lack of dynamism in the rest of the world. Innovation continues to enable the group to optimize its product portfolio and gradually exit low-margin segments. The positive evolution of the product mix associated with the cost reduction program in force has enabled the company to reiterate its profitability and growth objectives for 2024. Furthermore, the decline in inflation in Europe should restore consumers’ purchasing power and contribute to a better environment for the group’s business.