Irish food and ingredients company Kerry has reported a rise in first-half profit, helped by a 5.9% rise in like-for-like sales.
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The company reported adjusted profit after tax, and before goodwill and exceptionals, of €85.6m (US$92.9m), a rise of 10.6% compared to the year-ago period.
Operating profit rose 4.1% to €133m, a rise of 9.3% on a like-for-like basis.
The company said that “notwithstanding the significant shift in dollar and sterling exchange rates versus the euro, total group turnover reported was similar to the same period of last year at €1.8bn.”
Looking ahead, Kerry said it remains firmly focused on supply chain improvements and operational efficiencies.
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By GlobalData“While we continue to seek acquisitions of size, the group will continue to expand and broaden its technology and core business base in all territories through a busy pipeline of small to medium sized acquisition targets. Notwithstanding currency fluctuations, prospects for the full-year are good, with an expected out-turn in line with market forecasts,” the company said.
