Parent firm of Coleraine cheese enjoys £3.3bn sales for half-year
KERRY Group, the parent company of Coleraine cheddar, has reported sales of €3.6bn (£3.3bn) in the first six months of the year.
Sales in its consumer foods division were up 0.6%, while taste and nutrition sales were up 3.8%.
Kerry Group owns four facilities in Northern Ireland, including Dairy Produce Packers, makers of the popular Coleraine cheese brand, Henry Denny & Sons in Portadown and Golden Cow in Craigavon.
The group has said its earning per share growth for this year will be between 7% to 9%, having previously forecast growth of between 6% to 10%.
Sales increased 10% year-onyear to €3.6bn in the first six months of 2019, according to the company’s interim results.
The increase in turnover reflected volume growth of 3.3%, flat pricing, and the positive impact of acquisitions.
Chief executive Edmond Scanlon said he was “pleased with the business performance”.
“While heightened consumer pricing and uncertainty impacted market volume growth rates in some developed markets, our unique and industry-leading business model and integrated taste and nutrition positioning continued to deliver value for our customers in meeting evolving consumer needs,” he said.
“Good progress has been made on the integration of recent acquisitions, which are performing very well.”
Its taste and nutrition business recorded 3.8% volume growth during the period, while its consumer foods arm saw growth of 0.6%. It spent €327m (£303m) on acquisitions during the six months, including Southeastern Mills in the US.