Kerry Group Issue Interim Management Report 2016
Announced on 4 August 2016, Kerry Group has reported a solid financial performance for the half-year ended 30 June 2016. Overall business quality and operational efficiencies improved, with trading profits increased by 7.4% to €322m, and trading-profit margin increased by 70 basis points to 10.6%.
Commenting on the results, Kerry Group Chief Executive Stan McCarthy said; “Despite the challenging market landscape we delivered a solid financial performance in the first half of 2016, with continued margin expansion, strong cash generation and a 7.5% increase in adjusted earnings per share.”
Internationally, the group maintained a solid performance in North America and an improved performance in Latin America, while lower growth in the EMEA region of just 0.3% contrasted with an excellent performance in Asia, where business volumes increased by 9.5%.
In Ireland, Dairygold-branded spreads maintained brand positioning, while Charleville cheese recorded good growth. The award-winning ‘Fire and Smoke’ branded sliced cooked meats range also achieved growth and extended its brand positioning with the launch of an ‘on-the-go’ range of chicken snacking pots.
In its report, Kerry Group recognizes that consumer confidence in the UK has weakened as a result of the Brexit vote, but remains confident that its business is well positioned to address future challenges and opportunities. Looking to the future, the group expects growth in adjusted earnings per share in 2016 to be towards the middle to lower end of the 6% to 10% range of 320 to 332 cent per share.
© 2016 - Checkout Magazine by Ingmar Kiang