grew by 6.5% in the first quarter to €796.3m. This growth consists of underlying growth of 1.8% and acquisition-related support of 9.5%, offset by negative currency movements of (4.8)%. Food Europe revenue grew strongly by 17.6% in the first quarter to €377.6m. Underlying revenue growth was up 0.7% and there was a very strong contribution of 18.5% from acquisitions. Currency had a negative (1.6)% impact.
Food North America revenue declined by (0.9)% in the first quarter to €364.2m. Underlying revenue growth was 1.7%, while acquisitions added 3.1%. Currency had a negative (5.7)% impact.
Food Rest of World revenue declined by (7.4)% in the first quarter to €54.5m, as a strong underlying growth performance of 8.9%, was offset by a negative currency movement of (16.3%).
Owen Killian, chief executive, Aryzta, said the group remained on track to "substantially complete its transformation programme" by the end of the 2014 financial year and that the group was well placed to "take advantage of potential consolidation opportunities across the sector".
