FDBusiness.com

Strong First Half From Kerry Group

 Breaking News
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...
  • Ireland’s Most Sustainable Paper-free Cup Launched Ireland’s only completely paper-free compostable cup has been launched by Zeus, the Irish global packaging solutions company. Unlike other compostable cups, the Treefree Cup contains absolutely no paper product, making it the most sustainable single-use cup available in the Irish market. Additionally, to tackle the composting waste problem in Ireland, the cups and lids will be [...]...
  • GEA Supplies Largest Buttermaking Machine in India GEA recently sold its first buttermaking machine type BUE to an Indian dairy producer. Creamy Foods Limited, located in the state Uttar-Pradesh, placed an order for a GEA BUE 6000, which has a capacity of up to 6000kg/h butter, making it the largest buttermaking machine in India. The new machine will be brought into operation in [...]...
  • Clearance For Arla Foods UK and Yeo Valley Deal The British Competition and Markets Authority (CMA) has cleared Arla Foods UK’s proposed acquisition of Yeo Valley Dairies, a subsidiary of the Yeo Valley Group. The transaction will give the farmer-owned dairy co-operative the rights to use the Yeo Valley brand in milk, butter, spreads and cheese under an intellectual property licence with Yeo Valley. The [...]...

Strong First Half From Kerry Group

Strong First Half From Kerry Group
August 11
09:28 2015

Despite challenging market conditions and volatility in many regions of the world, Kerry Group delivered a strong financial performance throughout its core businesses in the first half of 2015. The global ingredients, flavours and consumer foods group reported a 4.7% increase in revenue to €3 billion for half year ended 30 June 2015. Business volumes grew by 2.7% in the period reflecting a strong overall performance in American markets, an improved performance in the EMEA region and continuing good growth in Asia despite a slowdown in some regional markets. Net pricing was 2.7% lower against a background of approximately 6% lower raw material costs. Currency tailwinds relative to the first half of 2014 contributed a positive 8.4% translation impact to revenue.

Group trading profit increased by 9% to €300 million with the trading profit margin advancing by 40 basis points to 9.9%. This reflects a 40 basis points improvement in trading margin in Kerry Group’s Ingredients & Flavours business to 12.1% and a 20 basis points improvement in the Consumer Foods division’s margin to 8%.

The consistent improvement in group trading performance was maintained due to operational improvements arising from the 1 Kerry Business Transformation Programme, improved product mix and portfolio repositioning in Kerry Foods.

Stan McCarthy, chief executive of Kerry Group.

Stan McCarthy, chief executive of Kerry Group.

Ingredients & Flavours increased trading profit grew by 12.3% to €281 million and reported revenue increased by 8.6% to €2.3 billion.

Following the sale of the Consumer Foods 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, the repositioned Kerry Foods portfolio has achieved encouraging results to-date. Revenue was 6.4% lower at €749 million and trading profit decreased by 3.9% to €60 million due to the business disposals. However, trading in the division’s continuing businesses improved satisfactorily. Rollover was acquired in January, extending Kerry Foods’ ‘hot-to-go’ offering and channel distribution in the UK market.

Stan McCarthy, chief executive of Kerry Group, comments: “We delivered a strong financial performance in the first half of 2015 reporting continued business margin expansion and an 8.1% increase in adjusted earnings per share. Based on group year-to-date performance, current exchange rates and business momentum, we are increasing our market guidance for the full year.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements