Kerry Group business rises 3.5%
Kerry Group said business volumes rose by 3.5 per cent in the first nine months of the year yesterday, as it reaffirmed its full-year earnings per share growth of 7-10 per cent.
In the nine months to September 30th, business volumes at Kerry Group, which produces brands including Dairygold, Low Low, Denny and Galtee, rose by 3.5 per cent, with a 4.1 per cent jump in taste and nutrition, and a 1.2 per cent increase in the group’s consumer foods division. Revenues rose by 2.2 per cent.
Pricing fell by 0.2 per cent, reflecting lower raw material prices on average across the period, but Kerry said the group trading margin was maintained.
Chief executive Edmond Scanlon said the group was “pleased” with performance to date in 2018.