Kerry Group reports profits of €175.2m for first half
Shares in food firm Kerry Group gained 3.5pc in Dublin today to €27.47 after the company reported an 8pc increase in pre-tax profits to €175.2m for the first six months of the year.
Basic earnings per share increased by 8.7pc to 82.2c while an interim dividend per share of 9.8c was declared.
Sales revenue grew to €2.6bn in the first half or an increase of 8.4pc while the company is expected to meet growth targets set earlier this year.
"Kerry delivered a solid earnings performance and strong volume growth in the first half of 2011, despite significant raw material and input cost inflation,” said Stan McCarthy, group chief executive.
"The group remains confident of achieving its growth targets for the full year and delivering 8pc to 12pc growth in adjusted earnings per share as guided at the beginning of the year."