Kerry Group on track to meet full year earnings targets, company says

Food group Kerry said volumes rose in the third quarter as the company remained on track to meet guidance for the year.

Revenue at the Dublin-listed group fell 3 per cent in the first nine months of the year, with a 2.2 per cent growth in volume weighed down by price deflation of 3.2 per cent. The impact of foreign exchange rates, acquisitions and disposals were also factors. The Dublin-listed group said overall volumes were up 4.3 per cent in the third quarter of the year, with its more significant taste and nutrition unit growing 3.4 per cent. Growth was driven by the Americas, a good performance in APMEA, with more positive volumes in Europe in the third quarter.

“We were pleased with our performance across the first nine months of the year, with continued volume progression through the period, combined with strong margin expansion,” said chief executive Edmond Scanlon.

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