FDBusiness.com

Kerry Group’s Trading Profits Reach €500 Million Milestone

 Breaking News
  • Royal A-Ware and Glanbia Ireland to Build New €140 Million Continental Cheese Facility Royal A-ware, a leading global cheese and dairy producer in The Netherlands, and Glanbia Ireland, Ireland’s largest dairy processor, plan to enter a strategic partnership that proposes to build a new continental cheese manufacturing facility in Belview, County Kilkenny, Ireland. It is proposed that a total of €140 million will be invested in this best-in-class [...]...
  • Pladis Appoints Global CEO Pladis, one of the world’s leading snacking companies, has appointed A Salman Amin as global CEO. He will take over the leadership officially in February. With a strong reputation in the food and drink sector, Salman Amin takes up the role after a highly successful international career spanning 30 years and three continents. Most recently, he [...]...
  • ADM Adds New Line of Specialty Tapioca Starches For the EMEA Region Archer Daniels Midland Company has announced a long term partnership with General Starch Limited (GSL), a leading tapioca starch producer located in Thailand. ADM will have exclusive distribution rights of the GSL modified tapioca starch products in the majority of the European countries, as well as in the Middle East and Africa. This range of [...]...
  • Louis Dreyfus Company to Exit Dairy Louis Dreyfus Company, a leading international merchant and processor of agricultural goods, has announced its decision to exit its dairy business by mid-2019. The move is in line with the company’s strategy over the past three years to exit non-core areas and refocus on its core businesses, including investments in origination markets and expansion along [...]...
  • Lucozade Ribena Suntory to Invest £13 Million in UK Factory Japan-based Suntory Beverage & Food is investing £13 million in its UK-based subsidiary Lucozade Ribena Suntory to install a new, high-speed bottle filler at its factory in Coleford, Gloucestershire. The new filler will produce 1.3 million bottles a day and will be instrumental in increasing productivity and efficiency at the Lucozade Ribena Suntory factory. The investment [...]...

Kerry Group’s Trading Profits Reach €500 Million Milestone

Kerry Group’s Trading Profits Reach €500 Million Milestone
February 21
16:01 2012

Despite the tough trading environment, Kerry Group, the global ingredients, flavours and consumer foods manufacturer, has increased trading profit by 7.1% on a like-for-like basis to Eur5001 million on sales up 6.4% to Eur5.3 billion for the year ended 31st December 2011.

The group’s ingredients & flavours businesses grew steadily in all regions benefiting from Kerry’s breadth and depth of technology and 1 Kerry approach to market development providing industry-leading integrated solutions.  Sales revenue increased on a reported basis by 8.5% to Eur3.71 billion, reflecting 7.7% like-for-like growth. Business volumes grew by 4% and pricing/mix increased by 3.8%. Trading profit increased by 9.4% like-for-like to Eur439 million with the division’s trading margin improved by 10 basis points to 11.9%.

While consumer spending remains constrained due to fiscal pressures, demands for all-natural and clean label solutions continue to grow as does the requirement for healthy reformulation, well-being and diet-specific offerings.

Cost recovery in Kerry Group’s consumer foods markets inIrelandand the UK proved more challenging due to the prevailing economic situation and level of price promotional activity in both markets. However, while Kerry Foods saw a moderation in volume growth as the year progressed, profitability in the division was maintained due to on-going business efficiency programmes and successful innovation focused on value consumer offerings. Sales revenue increased to Eur1.67 billion reflecting 3.2% like-for-like growth. Overall business volumes grew by 1.1%, reflecting 2.6% volume growth in the UK and a decline of 2.6% in Ireland. Trading profit showed 1% like-for-like growth to Eur130 million. Despite gains through business efficiency programmes, difficulties in cost recovery particularly in private label categories meant that the divisional trading margin was 30 basis points lower at 7.8%.

Kerry Group chief executive Stan McCarthy comments: “Kerry delivered good profitable growth in 2011 despite weak consumer confidence in many markets and significant raw material and input cost inflation. The group performed well across developed and developing markets while continuing to build our capabilities and positioning for the future.”

He adds: “We are confident of achieving our strategic growth objectives for 2012 and expect to achieve seven to ten per cent growth in adjusted earnings per share to a range of 228 to 235 cent per share (2011 – 213.4 cent).”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements