Kerry Group has posted revenue of €6.6 billion, which reflected a 3.5% volume growth.
The group achieved volume growth in 2018 well ahead of the market, where the rate of change continues to accelerate, according to its preliminary statement of results for the year ended 31 December 2018 which was published today.
“We are pleased with our performance in 2018, with volume growth well ahead of our markets, underlying margin expansion in line with expectations and adjusted earnings per share growth of 8.6% in constant currency,” said Edmond Scanlon, chief executive officer.
“This performance continues to highlight the uniqueness of Kerry’s business model in supporting customers, as consumers continue to look for innovation and drive further marketplace fragmentation.
Taste & Nutrition showed a +4.1% volume growth and consumer foods showed a +1.1% volume growth
“We have also made good progress across our strategic growth priorities, including further developing our industry leading portfolio of taste and nutrition foundational technologies, completing a number of strategic acquisitions and investments aligned to growth priorities as planned.”
“In 2019 we expect to deliver adjusted earnings per share growth of 6% to 10% on a constant currency basis.”
In December last year, the global taste and nutrition, and consumer foods group, announced that it has reached an agreement to acquire two North American Businesses, Ariake USA, the North American Business of Ariake Japan Co, and Southeastern Mills (SEM) North American for €325 million.
The group also announced its intentions to buy Fleischmann's Vinegar Company and AATCO Food Industries in a deal worth in the region of €365 million, in October 2018.
According to the recently published results report the groups Taste & Nutrition division achieved sustained volume growth in North America, solid growth in Latin America, a good performance in Europe and continued strong growth in APMEA.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.