Kerry Group’s shares fell on Thursday after it said earnings this year will come in at the lower end of previous guidance as its Dairy Ireland unit’s sales slid in a “challenging” environment.
However, Kerry’s key taste and nutrition division saw its sales volumes grow by 1.6 per cent during the third quarter, though pricing eased by 1.4 per cent, “reflective of some input cost deflation”, it said.Productivity ‘gains’ of working from home come under the microscope Previous talks on Kerry Group selling a 60 per cent stake in the dairy business to its Kerry Co-op, the group’s main shareholder, with about an 11.4 per cent stake, broke down two years ago amid a standoff over price. Kerry Group had been looking for a deal that placed a €800 million valuation on a joint venture.
Still, shares were down 2.6 per cent in early trading in Dublin as investors digested the lowered earnings guidance.
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