October 1, 2018 / 5:20 AM / 16 days ago

Aryzta posts 470 mln euro loss for 2018, pushed ahead with capital hike

ZURICH, Oct 1 (Reuters) - Aryzta on Monday reported a full-year loss of 470 million euros ($545.01 million), its second in a row, as distribution and labour costs and weak consumer spending in some markets kept the Swiss-Irish baking company under pressure.

The company, which posted a 907.8 million euro loss in 2017, is pushing ahead with its plan to raise 800 million euros in equity capital to reduce debt and boost its financial flexibility amid efforts to turn the company around and return it to growth. ($1 = 0.8624 euros) (Reporting by John Miller; Editing by Sunil Nair)

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