In a preliminary statement this morning (21 February), the company revealed that pre-tax profit for the year to the end of December rose to EUR449.1m (US$595.3m), up from EUR405.4m in 2010.
Like-for-like sales gained 6.4% to EUR5.3bn, while volumes were up 3.3%, the company revealed.
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However, the maker of Walls sausages said cautious consumers in the UK and Ireland had inhibited the ability of its consumer foods business to increase prices. As a result, margins at the unit were 30 basis points lower at 7.8%
Commenting on the result, chief executive Stan McCarthy said that higher sales were based on Kerry’s good performance across developed and developing markets.
“Kerry delivered good profitable growth in 2011 despite weak consumer confidence in many markets and significant raw material and input cost inflation,” McCarthy said.
Trading profit rose 7.1%, reaching the “milestone level” of EUR501m, McCarthy added.
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By GlobalDataKerry proposed a final dividend per share of 22.4 cent, giving a total dividend of 32.2 cent, up 11.8% on last year.
McCarthy said the company expects to achieve 7-10% growth in adjusted EPS in 2012, to a range of 228 to 235 cent per share.
Click here for the full release from Kerry or check back later for just-food’s in-depth analysis.
