Irish food giant Kerry Group revealed today (4 November) that its sales accelerated in the third quarter of 2010 despite volume growth dipping since the second quarter.
Kerry said revenue had risen 8.7% during the nine months to the end of September, indicating sales had quickened during the third quarter. After six months of the year sales were up 6.7%.
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On a like-for-like basis, Kerry’s revenue increased 3.5% over the first nine months of 2010. In the first six months of the year, like-for-like sales were up 2.7%.
Continuing business volumes rose 5.3% between January and September thanks to a 6% increase in ingredients volumes and a 3.5% climb in volumes of consumer brands.
However, after six months, Kerry had posted a 5.8% in continuing business volumes; ingredients volumes were up 6.5% and branded volumes had grown 4%.
The company said its trading profit margin had increased by 30 basis points in the first nine months of the year – allowing for development costs relating to the company’s global IT project. During the first six months of the year, trading profit margin rose by 40 basis points.
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By GlobalData
