Kerry reports ”strong” performance

26 Feb 2016

Kerry has reported revenues of €6.1 million for 2015, reflecting 3.8% business volume growth. Taste & Nutrition achieved growth of 4% to €4.7 billion, while the Consumer Foods business grew 3% to €1.5 billion.

Kerry reports ”strong” performance

Kerry has reported revenues of €6.1 million for 2015, reflecting 3.8% business volume growth. Taste & Nutrition achieved growth of 4% to €4.7 billion, while the Consumer Foods business grew 3% to €1.5 billion. Trading profit was up 10% to €700m.

“In a record year of business development in 2015, the Group achieved a strong financial performance, delivering continued business margin expansion and 8.2% growth in adjusted earnings per share,” said Kerry Group Chief Executive Stan McCarthy. “Our industry-leading technologies are well positioned to meet today’s consumer and customer requirements. We expect to achieve 6% to 10% growth in adjusted earnings per share in 2016 taking into account a 3% currency headwind at today’s exchange rates.”

The company said that the changing marketplace continues to drive a strong pipeline of innovation and demand for Kerry’s Taste & Nutrition Technologies and Systems. Solid market development was achieved in all regions as the Group’s global and regional customers addressed consumer demand for ‘better-for-you’, natural, authentic taste, ‘free-from’, ‘clean-label’, convenience products. Developed market conditions remain challenging, Kerry said, as food and beverage providers compete to meet changing consumer lifestyles, shopping behaviours, and retail / foodservice channel requirements. Regional developing markets continue to be impacted by slower economic growth, significant currency movements and geopolitical issues. Against this background, Kerry said that its Taste & Nutritional technology portfolio and Global Technology & Innovation Centre network was to the fore in product development and innovation through the Group’s commercial alliances.