FDBusiness.com

Robust 2015 Performance by Kerry Group

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

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

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements