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Strong 2012 Performance by Kerry Group

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Strong 2012 Performance by Kerry Group

Strong 2012 Performance by Kerry Group
February 27
14:19 2013

Kerry Group, the global ingredients and flavours and consumer foods business, has increased sales revenue by 10.3% to Eur5.8 billion and trading profit by 10.8% to Eur555 million for the year-ended 31 December 2012.

Continuing business volumes rose by 2.8% and group trading margin improved by 10 basis points to 9.5%, with the Ingredients & Flavours business up 10 basis points to 12% and the Consumer Foods division 20 basis points lower at 7.6%. R&D investment during 2012 amounted to €186 million.

Kerry’s Ingredients & Flavours businesses, which now accounts for 71% of group revenue and 79% of trading profit, achieved a strong performance across all key technology platforms, end-use-markets and geographies – benefiting from the 1 Kerry strategic focus and the breadth and depth of group technologies. Sales revenue grew by 14% on a reported basis to Eur4.2 billion reflecting 3.4% like-for-like growth. Continuing business volumes increased by 4% outperforming market growth rates. Trading profit grew by 15.1% to Eur506 million.

Kerry Foods, the group’s consumer foods business in the UK and Ireland, increased reported sales revenue by 2.3% to Eur1.71 billion, reflecting a decline of 1.5% on a like-for-like basis. Trading profit was flat at Eur130 million. However, given that the consumer foods markets in Ireland and the UK remain challenged by intense promotional activity and the difficulty in cost recovery following significant raw material inflation. Kerry Foods performed satisfactorily against this background due to continued innovation and investment in the division’s key brands and ongoing business efficiency improvements.

Stan McCarthy (pictured), chief executive of Kerry Group, comments: “We are pleased to report a strong group-wide performance in 2012 and 11.3% growth in adjusted earnings per share. Our 1 Kerry Business Transformation Programme is well underway which through exploiting the technologies and expertise of the organisation will drive our future growth. We continue to invest in our technologies, innovation and nutritional expertise, and also in expanding our footprint throughout developing markets. In 2013 we expect to achieve 7% to 11% growth in adjusted earnings per share.”

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