FDBusiness.com

Strong First Half From Kerry Group

 Breaking News
  • Ardgowan Unveils Plans For Inverclyde Distillery Ardgowan Distillery has revealed ambitious designs for its new £12 million distillery which is being built on the Ardgowan Estate near Inverkip, 30 miles west of Glasgow. The plans showcase the flagship building which has just secured revised planning consent from Inverclyde Council. The striking new design, by Michael Laird Architects, brings a number of improvements [...]...
  • HKScan Launches Exports of Finnish Poultry Products to Sweden HKScan, the Nordic food and meat group, has started exporting Finnish poultry products to Sweden. They will initially be sold through the largest retailer ICA’s outlets under the Karinäs®(Kariniemen®) brand. The launch gives Swedish consumers access to a new innovation: high welfare farm-born poultry that is hatched on the farm where it is raised. This new concept is [...]...
  • Almonds Retain Top Spot For Nut Introductions in Europe According to Innova Market Research’s latest Global New Product Introductions Report, almonds retain the number one spot for nut introductions in Europe. With a 47% share of global almond product introductions, the region leads globally for the eleventh year running. Europe as a whole saw a total of 5,017 new introductions with almonds – a [...]...
  • Arla Foods UK Launches New Standards Model to Bring Sustainable Change to Dairy Farming With ongoing volatility in the global milk markets, increasing consumer misunderstanding of the sector, polarised levels of support for UK dairy farmers and a new post-Brexit Agriculture Bill the challenges for dairy farmers are mounting. Farmer-owned co-operative Arla Foods has launched ‘Arla UK 360’ – a new standard in UK dairy farming. The Arla UK 360 [...]...
  • €172 Million to Promote EU Agri-food Products In and Outside the EU The European Commission will provide funding of €172.5 million from the EU agricultural budget to promote EU agri-food products in Europe and across the world. 79 campaigns, covering a wide range of products such as dairy products, olives and olive oil, and fruit and vegetables, will be rolled out over the next three years. Agriculture and [...]...

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

  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
  • October 31, 2018Int'l exhibition for food products and equipment (Indagra Food)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements