- Consumer food volumes up 1.4%, trading margin up 20 basis points
- Ingredients volumes up 2.9%, trading margin up 40 basis points
- Group-wide volumes up 2.5%
Kerry Group booked higher consumer food volumes in the first quarter, thanks to efforts to reposition its portfolio to focus on snacking trends and a stabilisation of market conditions in the UK and Ireland.
The Ireland-based food group said volumes at its consumer food unit increased 1.4% in the three months to the end of March. "Market conditions in the UK and Irish consumer foods sectors have broadly stabilised. The repositioned Kerry Foods portfolio performed well benefiting from snacking trends and a good recovery in meal solutions," Kerry said.
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The company also improved its consumer foods trading margin, which expanded by 20 basis points in the period. Mix and a better trading performance boosted margins.
Kerry's ingredients arm continued to grow ahead of the consumer foods unit, with volumes rising 2.9% and a 40 basis point improvement in trading margin. Kerry said its ingredients arm was boosted by its ability to meet growing demand for health and wellness products.
