ZURICH, SWITZERLAND — Revenues in the North America division of Aryzta totaled €473.7 million ($529.3 million) in the third quarter ended April 30, up 0.1% from the same period a year ago.
“An underlying revenue decline of 4.3% was offset by a positive currency impact of 4.4%,” Aryzta noted in a May 30 trading statement. “The underlying revenue decline of 4.3% comprised of a negative volume impact of 6.7% offset by a price/mix impact of 2.4%. The North American performance reflects a quarterly sequential improvement of 1.5% from the 5.8% underlying revenue decline in Q2.
“North America continued to experience declining revenue from a small number of already disclosed customer contract volume losses. However, the North American business faces headwinds from increasing labor supply issues and negative operating leverage from weaker revenue.”
Overall, total group revenue in the third quarter totaled €975.2 million ($1,090.9 million), up 2.7% from the same period a year ago.
On May 19, Aryzta named Kevin Toland as chief executive officer. The news comes a little over three months after Owen Killian, the previous c.e.o., announced plans to resign at the end of the current financial period in July. Mr. Killian has been c.e.o. and executive director since 2008, when Aryzta was formed from a combination of IAWS Group P.L.C. and Hiestand.
Mr. Toland will join Aryzta following a customary six-month notice period. Most recently he was chief executive of DAA, formerly Dublin Airport Authority, since 2013. Prior to that role, he was president and c.e.o. of Glanbia USA & Global Nutritionals, a division of Glanbia, where he led the business to become the largest manufacturer and exporter of American style cheese in the United States and the global leader in sports nutrition. He also held other senior roles at Glanbia, including group development director, chief executive of consumer foods, and director of strategy and marketing.
