Kerry, the Ireland-based food group, has posted a 7% rise in full-year profits after managing to pass on higher commodity costs to its retail customers.
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The maker of brands including Wall’s sausages booked trading profit of EUR401.1m (US$597m), a rise of 7.4% on the year. Sales rose 6.7% to EUR4.8bn.
Chief executive Stan McCarthy said co-operation with retailers enabled Kerry to protect its profits. “Kerry achieved a good all-round business performance and solid organic growth in 2007, notwithstanding the inflationary input cost environment,” he said.
Kerry saw revenue from its ingredients division – which accounts for over 40% of its turnover – rise 7.8% to EUR3.3bn.
Turnover from its consumer brands rose 5.6% to EUR1.8bn, thanks in part to growing demand for convenience food in Ireland.
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By GlobalDataWall’s Micro’s, Mattesons snacks and chilled ready meals boosted Kerry in the UK, where the company’s frozen ready meals managed to gain share in a declining sector.
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