FDBusiness.com

Robust 2015 Performance by Kerry Group

 Breaking News
  • Bord Bia’s 2018 Brexit Barometer Results The Irish Government has launched the Bord Bia 2018 Brexit Barometer, a comprehensive survey of 117 Irish food, drink and horticulture companies, representing 48% of the sector’s exporters to the United Kingdom. Over 100 senior industry representatives attended the launch in Bord Bia to hear the report findings. The purpose of the Brexit Barometer is to assess [...]...
  • Cargill Invests in Mouscron Facility to Meet Demand For Belgian Chocolate With the rapid rise in consumer demand for premium, high quality Belgian chocolate, Cargill has invested in a new liquid chocolate production line in its Mouscron production facility in Belgium. This investment increases the company’s capacity to produce milk and dark chocolate and creates up to 10 new local jobs. Cargill’s cocoa and chocolate business will [...]...
  • Heineken Makes Biggest Ever Investment in UK Pub Estate Heineken UK is making its largest ever annual investment in Star Pubs & Bars, investing £44 million during 2018. This investment is more than double the figure invested last year (£20 million) and brings Heineken’s total expenditure on pubs to almost £140 millioin over the past five years.Around a quarter of Star’s 2,900 pubs will [...]...
  • New Starter Culture Secures Mild and Creamy Soft Cheeses Chr. Hansen’s latest launch helps cheesemakers to produce soft cheese that maintains the desired taste and texture. The extension to the DVS® SSC series is the latest addition to Chr. Hansen’s soft cheese starter culture range. The product series now consists of four cultures and is designed to create soft cheese with a mild flavor and [...]...
  • TOP Develops Technology Platform For Dairy Farmers TOP from Wageningen in the Netherlands is developing a technology platform that enables dairy farmers to sell bottled milk from individual cows. With the technology it will be possible to pasteurize and package bottles of milk from individual cows. Dutch consumers will soon be able to buy milk from their very own favourite cow. In the [...]...

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 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements