Kerry revenues rise 4.8%, with profit increasing 5.2%

15 Aug 2017

Kerry has reported that first half group revenue increased by 4.8% to €3.2 billion reflecting 3.8% business volume growth. Trading profit increased by 5.2% to €338m.

Kerry revenues rise 4.8%, with profit increasing 5.2%

Kerry has reported that first half group revenue increased by 4.8% to €3.2 billion reflecting 3.8% business volume growth. Taste & Nutrition saw 4.2% volume growth, while Consumer Foods grew 2.3%. Trading profit increased by 5.2% to €338m. Group trading margin was maintained at 10.6%. Adjusted EPS was up 7.5% to 143.8 cent.

“Against a background of significant adverse currency movements, we achieved a strong overall business performance in the first half of 2017, outperforming market growth rates and delivering a 7.5% increase in adjusted earnings per share,” said Kerry Group Chief Executive Stan McCarthy. “In February 2017 we guided growth in adjusted earnings per share of 5% to 9% at prevailing exchange rates. Taking into account increased currency translation headwinds of 4% and a 2% improvement in underlying performance at constant currency rates, we now expect to achieve growth in adjusted earnings per share of 3% to 7% on a reported basis to a range of 333.1 to 346 cent per share (2016: 323.4 cent).”