Food company Kerry Group has announced a rise in sales and profits for the half year ended 30 June 2005.
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Revenue in the half was €2.117bn (US$2.59bn), compared with €1.955bn in the same period last year. Profit after taxation was €100.566m, compared with €86.128m last year.
“In a highly competitive trading environment, exacerbated by energy and raw material cost increases and adverse currency movements, the group performed well in the first half of 2005,” said chief executive Hugh Friel. “We expect further business improvements in the second half, with an outcome for the full year in line with market expectations.”
The continued depreciation of the US dollar and sterling exchange rates versus the euro again impacted reported sales and profit performance, the company said. On a like-for-like basis total sales grew by 3.4% relative to the same period of 2004.
Input cost inflation also had an impact on performance, in particular as energy costs continued to surge to ever higher record levels throughout the first half of 2005.
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