Wednesday 20 June 2018

Kerry Group half year sales top €3bn

Stan McCarthy
Stan McCarthy

Paul O'Donoghue

Irish international food giant Kerry Group has raised its full year guidance after seeing revenue increase by 4.7pc to €3bn in the first six months of the year.

The company saw trading profit rise by 9pc to €300m while business volumes were up 2.7pc in the period.

It said that this was due to a strong performance in American markets, “an improved performance in the EMEA region and continuing good growth in Asia despite a slowdown in some regional markets”.

Kerry is now forecasting an 8.1pc increase in adjusted earnings per share to 124.5 cent compared to 115.2 cent the year before.

The interim dividend of 15 cent per share represents an increase of 11.1pc over the 2014 interim dividend.

Chief executive Stan McCarthy said: "We delivered a strong financial performance in the first half of 2015 reporting continued business margin expansion and an 8.1pc increase in adjusted earnings per share.

“Based on group year-to-date performance, current exchange rates and business momentum, we are increasing our market guidance for the full year".

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