Strong growth lev­els recorded by Kerry Group

The Kerryman (Tralee Edition) - - NEWS -

TRALEE based global food and in­gre­di­ents gi­ant Kerry Group have re­ported strong growth in the first nine months of 2017.

The group is­sued its third quar­ter In­terim Man­age­ment State­ment last week in which it re­ported busi­ness vol­ume growth of 4.2 per cent in the nine months to the end of Septem­ber.

Kerry’s taste and nu­tri­tion sec­tion saw growth of 4.6 per cent while its con­sumer foods di­vi­sion en­joyed growth of 2.5 per cent.

An­nounc­ing the fig­ures Kerry Group’s Chief Ex­ec­u­tive Ed­mond Scan­lon said the growth in busi­ness vol­umes should be re­flected by sim­i­lar growth lev­els in share­holder earn­ings.

“The Kerry Busi­ness Model con­tin­ues to de­liver speedy in­no­va­tion in re­sponse to the pace of change in the food and bev­er­age in­dus­try,” said ~Mr Scan­lon.

“We achieved good vol­ume growth in the first nine months of 2017 and for the full year, tak­ing into ac­count the four per cent cur­rency trans­la­tion head­wind, we ex­pect to achieve growth in ad­justed earn­ings per share of four per cent to six per cent on a re­ported ba­sis to a range of 336 to 343 cent per share,” he said.

The re­port stated that Taste and Nu­tri­tion Tech­nolo­gies and Sys­tems had de­liv­ered good growth in North Amer­ica, a solid per­for­mance in Latin Amer­ica, good growth in the EMEA re­gion and con­tin­ued dou­ble digit growth in Asia.

De­spite in­creas­ing in­fla­tion­ary pres­sures in the UK con­sumer foods mar­ket, Kerry Foods main­tained good vol­ume growth – ben­e­fit­ing in par­tic­u­lar from in­creased snack­ing trends in dairy and meat cat­e­gories.

In Oc­to­ber, the Group also ac­quired Mis­sis­sippi based Dot­t­ley Spice, a lead­ing sup­plier of sea­son­ings and coat­ings to the meat pro­cess­ing in­dus­try and food­ser­vice sec­tor in North Amer­ica.

Agree­ment has also been reached to ac­quire the US based Ket­tle busi­ness of Tyson Foods, a lead­ing provider of culi­nary sys­tems and so­lu­tions in the North Amer­ica re­gion.

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