Wednesday October 21, 2020

Aryzta slumps as baked-goods maker warns on profitability

30th May, 2017
Aryzta chairman Gary McGann Pic: Tony O’Shea

Ailing baked-goods maker Aryzta has said said its profitability will remain under pressure, seeking to further dampen investor expectations ahead of the arrival of a new chief executive.

Weak revenue and rising labour costs in North America will weigh on margins after volume declines in that market worsened, the Zurich-based maker of McDonald’s hamburger buns said today sending its shares tumbling further.

The company also said that optimising its European bakeries will take...

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