Saturday 10 December 2016

Kerry Group revenue rises to €3bn

Published 04/08/2016 | 08:15

Pictured is Brian Mehigan, Chief Financial Officer & Stan McCarthy , Kerry Group Chief Executive at the launch of the Kerry Group Interim Management Report for the half year ended 30 June2015. The Group reported a solid financial performance for the half y
Pictured is Brian Mehigan, Chief Financial Officer & Stan McCarthy , Kerry Group Chief Executive at the launch of the Kerry Group Interim Management Report for the half year ended 30 June2015. The Group reported a solid financial performance for the half y

Revenue at Irish food firm Kerry Group increased by 3.2pc to €3bn in the first half of the year as the company continued to perform strongly despite major currency headwinds.

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Earnings per share at Kerry increased by 7.5pc to 133c with the business reported 3.5pc and 2.3pc volume growth in its taste and nutrition, and consumer foods arms respectively.

Kerry posted a trading profit of €322m in the six-month period, up 7.4pc year on year.

Speaking about the results Kerry chief executive Stan McCarthy said the company delivered a "solid performance" with continued margin expansion.

"While we are confident of delivering an underlying trading performance in the full year as previously guided; taking into account the increased currency headwinds of 5pc at current exchange rates, growth in adjusted earnings per share in 2016 is expected to be towards the middle to lower end of the 6pc to 10pc range of 320 to 332c per share," Mr McCarthy said.

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