Kerry Group Announces Q1 Volume Growth Of 2.9% Ahead Of AGM
With its AGM taking place today, 27 April, Kerry Group has issued an Interim Management Statement for Q1 2016, revealing that group-wide business volumes grew by 2.9%, while net pricing was 1.5% lower during the quarter, in line with lower input pricing.
Meanwhile, reported revenues increased by 0.9% in Q1, which Kerry Group says reflects business volume growth, lower pricing, and a currency translation headwind of 2.3%, as well as the effect of acquisitions net of disposals of 1.9%.
The company noted that in the UK and Irish consumer foods markets, it repositioned its offerings to capitalise on changing consumer snacking, convenience and food-to-go trends. This led to business volumes increasing by 2.1% compared with the previous year, while pricing decreased by 1.3%.
In Ireland, the Fire and Smoke range of sliced cooked meats maintained good growth, as Dairygold held onto its position as brand leader in dairy spreads, and Charleville achieved good growth in the cheese sector.
Further afield, Kerry Group’s US operation delivered 3.1% business volume growth, while it saw 0.2% volume growth in the EMEA region, where trading conditions remained challenging. Volume growth in the Asia Pacific region was 8.7%, in line with strong market development in all regional developing markets.
© 2016 - Checkout Magazine by Jenny Whelan.