Kerry "confident" of hitting FY targets

12 November 2012 | News | Source: Kerry Ingredients & Flavours


Irish food firm Kerry Group has said it expects to meet full-year growth targets, after booking an increase in sales during the first nine months of the year.

In an interim management statement, released today (31 October), Kerry said nine-month revenues rose 10.9%, climbing to EUR4.4bn. Comparable volumes were up 2.1% and pricing increased by 0.8%, the company revealed.

The company said its performance was "solid" across all regions, despite "challenging" conditions in Europe and a highly competitive environment in consumer foods in Ireland and the UK. The consumer foods business reported a 2.4% sales increase, with like-for-like sales down 0.9%.

Trading profit for the nine months increased by 12.1% on a reported basis, the company revealed, and Kerry's underlying trading margin performance remained "strong".

Looking to the full year, Kerry reaffirmed that it expects to hit its EPS growth target of 9-11%.



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