Kerry reports on first quarter7 May 2019
In Kerry Group’s Q1 Interim Management Statement, the company reports business volume growth of 3.3%. Taste & Nutrition grew by 3.8%, with Consumer Foods growing 0.8%.
Pricing declined by 0.2%. Reported revenue grew by 10.3%. The group’s trading margin grew 10bps, with Taste & Nutrition up 10bps and Consumer Foods down 10bps. Earnings guidance for the full year was reaffirmed .
Edmond Scanlon, Chief Executive Officer, said: “We have made a solid start to the year with overall business performance in line with expectations. The Group continued to deliver volume growth ahead of the market while expanding trading margin. We are pleased with our innovation pipeline and the continued enhancement of our product mix.
Our industry-leading business model and unique taste and nutrition positioning continue to deliver significant value for our customers in meeting rapidly evolving consumer needs. The recently announced acquisitions have performed very well and we are pleased with the progress made on their integration. In summary, we are encouraged by our progress in the quarter and reaffirm our full year 2019 guidance of adjusted earnings per share growth of 6% to 10% in constant currency.”
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