FDBusiness.com

Robust 2015 Performance by Kerry Group

 Breaking News
  • Pernod Ricard to Acquire Super-premium Italian Gin Brand Pernod Ricard is acquiring Italian super-premium gin brand Malfy from Biggar & Leith for an undisclosed price. Malfy is a range of super-premium gins distilled by the Vergnano family in the Italian region of Moncalieri, and already present in several international markets such as the United States, United Kingdom and Germany. Each gin in the [...]...
  • Nestlé and Carrefour Give Consumers Access to Blockchain Platform Nestlé and Carrefour, the French retail group, have announced that they are giving consumers access to blockchain data for Mousline purée in France. This is the first time that Nestlé is sharing information on its products with consumers via a blockchain platform. Consumers can use their smartphone or other device to scan a QR code on [...]...
  • Plastics Action Alliance Sets Targets to Achieve Sustainable Reduction in Use of Plastic in Ireland Plastics Action Alliance, the recently formed group that comprises of 11 leading agricultural processing and food businesses in Ireland, has set out its key objectives. The industry leading group aims to significantly reducing the use of plastic packaging across its members’ operations. Formed at the end of 2018, the Plastics Action Alliance is a collaboration that [...]...
  • Carlsberg UK Gets Honest About Its Beer Carlsberg UK has launched its most ambitious and honest consumer facing campaign ever in a bid to drive reappraisal of its flagship beer brand. Expected to reach 97% of the UK, the £20 million campaign conceived in collaboration with agency partners Fold7, Clifford French and Initiative – trades on the equity of the brand’s renowned [...]...
  • Alternative Proteins Challenge Dairy Dominance The value of the sports nutrition market is set to grow by around 8% per year to reach over US$17 billion globally in 2021, according to Innova Market Insights’ forecasts. The mainstreaming of the market has led to a surge in interest in plant-based alternatives with the traditional dominance of whey and other dairy proteins [...]...

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

  • June 18, 2019Multimodal 2019
  • June 25, 2019BevExpo 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements