Kerry has issued its Interim Management Statement for the nine months ended 30 September 2017. The company saw 4.2% growth in business volumes, with Taste & Nutrition up 4.6% and Consumer Foods up 2.5%.
Kerry has issued its Interim Management Statement for the nine months ended 30 September 2017. The company saw 4.2% growth in business volumes, with Taste & Nutrition up 4.6% and Consumer Foods up 2.5%.“The Kerry Business Model continues to deliver speedy innovation in response to the pace of change in the food and beverage industry,” said Kerry Group Chief Executive Edmond Scanlon. “We achieved good volume growth in the first nine months of 2017 and for the full year, taking into account the 4% currency translation headwind, we expect to achieve growth in adjusted earnings per share of 4% to 6% on a reported basis to a range of 336 to 343 cent per share”.The company said it maintained a strong business momentum in Q3 2017, delivering good volume growth ahead of category growth rates, driven by successful innovation in response to consumer health and wellness trends. The continuing positive momentum, it said, reflects the adaptability and agility of Kerry’s Business Model in meeting customer requirements across multiple end-use-markets and broadening diverse market channels. According to Kerry, nutritional labelling requirements and demand for clean label, free-from, meat-free, natural, tasteful food and beverage offerings remain a strong positive catalyst for differentiated product development. The company noted that investment in pioneering technologies, assisted by Kerry’s Innovation Centre network and ‘in-market’ Development & Application Centres, continues to provide significant growth opportunities through the Group’s global, regional and local customer alliances across developed and developing markets. In particular, growth across foodservice, convenience and e-tail channels in all regions continues to present solid innovation platforms for growth and market development.