Kerry reports 3.6% volume growth for 2019

21 Feb 2019

Kerry Group has reported preliminary results for the year ended 31 December 2018. Adjusted EPS was 353.4 cent, up 8.6% on a constant currency basis. Group revenue was €6.6 billion reflecting 3.5% volume growth.

Kerry reports 3.6% volume growth for 2019

Kerry Group has reported preliminary results for the year ended 31 December 2018. Adjusted EPS was 353.4 cent, up 8.6% on a constant currency basis. Group revenue was €6.6 billion reflecting 3.5% volume growth, with Taste & Nutrition seeing 4.1% volume growth and Consumer Foods up 1.1% in volume growth. Group trading margin was maintained at 12.2% despite a 30bps currency headwind.

Edmond Scanlon, Chief Executive Officer, said: “We are pleased with our performance in 2018, with volume growth well ahead of our markets, underlying margin expansion in line with expectations and adjusted earnings per share growth of 8.6% in constant currency. This performance continues to highlight the uniqueness of Kerry’s business model in supporting customers, as consumers continue to look for innovation and drive further marketplace fragmentation. We have also made good progress across our strategic growth priorities, including further developing our industry leading portfolio of taste and nutrition foundational technologies, completing a number of strategic acquisitions and investments aligned to growth priorities as planned. In 2019 we expect to deliver adjusted earnings per share growth of 6% to 10% on a constant currency basis.”