Revenue at Kerry Group passes the €3bn mark driven by organic growth
Revenue at Kerry Group rose by 4.8pc year on year to €3.2bn in the six months to 30 June, according to the company’s interim management report.
The increase was driven by strong organic growth and price increases.
Despite what the company described as "significant adverse currency movements" and increased raw material pricing, trading profit at the group increased by 5.2pc on the same period last year to €338.4m.
Trading margins were maintained at 10.6pc.
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During the period business volumes grew by 3.8pc, compared to the same period in 2016, reflecting a good performance in American markets, an improved performance in the European, Middle East, and African regions and double digit growth in the Asia-Pacific region.
However Kerry was not immune to currency fluctuations, which contributed to an adverse 1pc translation impact and an adverse 0.4pc transaction currency impact to revenue relative to the same period last year.
Breaking down the results by business segment, the company’s Taste & Nutrition business delivered strong growth of 4.2pc in business volumes, while pricing increased by 1.7pc.