Kerry Group has posted its Interim Management Statement for the three months to 31 March 2014, indicating underlying sales growth of 3.3% across the entire group.
Its Consumer Foods portfolio posted flat sales growth of +0.2%, with volumes in the business falling slightly -0.1%. Its Ingredients & Flavours business, meanwhile, posted +4.4% growth, with volume up +4.0%.
On its Consumer Foods division's performance, the company said in a statement that "the group's primary consumer foods markets in the UK and Ireland remained highly competitive with increased market fragmentation in response to consumer trends. Sales through discounter channels and private label offerings continued to grow. However, Kerry Foods’ priority brands maintained brand shares in the UK and achieved encouraging category growth in a stabilised Irish marketplace.
"While conditions in the Irish market have stabilised, private label and discounter offerings continue to gain market share in the sausage, cooked meats and branded cheese categories. Dairygold spreads continue to perform well in the dairy spreads sector."