How do you know when you’ve hit rock bottom? You rarely do, as Aryzta chief executive Kevin Toland found out, to his chagrin, in 2018.
After several years of disappointing earnings and a near complete wipeout of shareholder value, he confidently predicted the bad times were over and the reset button firmly pressed, only to be overtaken by several industry-wide headwinds to do with labour and input costs.
This forced the Irish-Swiss baking group, owner of the Cuisine de Francebrand here, into yet another profit warning in May 2018, further depressing investor sentiment.
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