IRELAND: Kerry H1 profits up, sales dip

By: just-food.com | 25 August 2009

Profits up 4%
Margins better in ingredients and consumer foods
Lower dairy, wheat prices hit revenues

Irish food maker Kerry Group today (25 August) posted rising half-year profits on the back of better margins from its ingredients, flavours and consumer foods divisions.

The group behind brands including Wall's sausages booked a 4% rise in trading profit to EUR180m (US$257.3m) during the six months to June.

Trading margin from Kerry's consumer foods business was up by 30 basis points and rose by 60bps in its ingredients and flavours divisions.

Sales reached EUR2.27bn, down 4% on a reported basis. Stripping out foreign exchange, turnover fell 3.2%, as falling dairy and wheat prices reduced Kerry's ingredients revenues, while the company invested in promotions for its consumer food brands.

Click here for the full release from Kerry and click here for news of the company's ambitions to expand in Asia.

Sectors: Baby food, Bakery, Chilled foods, Commodities & ingredients, Dairy, Emerging markets, Retail, Snacks

Companies: Kerry Group, Wall’s