FDBusiness.com

Robust 2015 Performance by Kerry Group

 Breaking News
  • Younger British Consumers Turn Over a New Leaf on Tea New research from Mintel reveals that as many as 37% of British consumers aged 25-34 have drunk 5-6 different types of tea at home or in the workplace over the past month*, compared to just 3% of those aged 55+. Furthermore, Brits aged 25-34 are the most likely to drink every variety of tea tracked by [...]...
  • Irish Consumer Confidence Hits New High Consumer confidence in Ireland has hit its highest level since the recession and is now the fourth most confident country in Europe, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions. The Republic of Ireland’s Consumer Confidence Index score – which measures attitudes each quarter on topics including personal finances and job prospects [...]...
  • Fifth Acquisition For Frutarom in 2017 Frutarom Industries, one of the world’s 10 largest companies in the field of flavours and natural specialty fine ingredients, continues its momentum of acquisitions and the implementation of its rapid and profitable growth strategy by agreeing to purchase of 100% of the shares of the UK company Flavours and Essences (UK) Ltd (F&E) for approximately [...]...
  • Market-leading Food Contact Conference, Plastics & Paper in Contact with Food – 4-7 December, Berlin Over 200 experts from across the food contact industry will come together in Berlin, Germany from 4–7 December 2017 to attend Smithers Pira’s Plastics & Paper in Contact with Foodstuffs (P&P) –http://www.food-contact.com/plastics-paper. With the European Commission having recently published EU regulation 752/2017 amending EU Regulation 10/2011 on plastic materials and articles intended for food contact, all [...]...
  • Croxsons’ Stunning Black Bottle For 6 O’Clock Gin’s Limited Edition Debut Leading glass packaging company Croxsons has supplied Bristol based distiller, 6 O’Clock Gin, with a stunning black bottle for their first limited edition gin product – the Brunel Edition. Since Bramley & Gage’s partnership with Croxsons for the re-launch of their 6 O’Clock gin, the Brunel Edition is the first limited edition gin for 6 O’Clock [...]...
  • Carlsberg Group Remains on Course Carlsberg Group has announced organic and reported net revenue growth of 2% to DKr31.77 billion (€4.27 billion) for the first half of 2017 although group beer volumes fell organically by 3%, chiefly due to a decline in Russia. Operating profit was up 15% organically, with all three regions – Western Europe, Eastern Europe and Asia [...]...

Robust 2015 Performance by Kerry Group

Robust 2015 Performance by Kerry Group
February 25
16:01 2016

Kerry Group, the global taste & nutrition and consumer foods business, has reported a 10% rise in trading profit to €700 million on revenue up by 6.1% to €6.1 billion for year ended 31 December 2015. Business volumes progressively improved during the year delivering 3.8% year-on-year growth. Kerry’s Taste & Nutrition business accounts for 76% of group revenue and 84% of group trading profit.

Kerry Group’s trading performance was aided by 1 Kerry efficiency programmes, improved product mix and the repositioned Kerry Foods business portfolio, resulting in group trading profit margin increasing by 40 basis points to 11.5%.

KerryGroupIngredientsBannerKerry Group completed ten acquisitions during the year at a net cost of €888 million. It also disposed of the Pinnacle lifestyle bakery business in Australia and the Consumer Foods Direct-ToStore business in the UK. The total consideration was €154 million before disposal related costs.

The Taste & Nutrition business reported an 8.7% increase in revenue to €4.7 billion, reflecting 4% business volume growth and 2.3% lower net pricing. Trading profit grew by 11.9% to €663 million reflecting a 40 basis points increase in divisional trading margin to 14.1%.

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.

KerryGroupConsumerFoodsBannerThe repositioned Kerry Foods’ portfolio performed well delivering 3% volume growth in 2015. Net pricing was 1.9% lower. Following the sale of the division’s pastry manufacturing assets in August 2014 and the management buy-out of the Direct-To-Store business in the UK completed at the end of February 2015, sales revenue in the repositioned Kerry Foods’ portfolio was reported at €1.476 billion. Trading in the division’s continuing businesses improved during the year, with reported trading profit similar to the prior year level at €126 million despite the business disposals.

Stan McCarthy, chief executive of Kerry Group, comments: “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. 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.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements