Kerry Group's consumer foods portfolio, which includes brands such as Denny, Galtee and Charleville, saw a reported revenue decline of 5.8% last year to €1.5 billion.
According to results for the year to 31 December 2014, continuing business volumes were 0.7% lower in the portfolio, and pricing reduced by 0.6%.
Trading profit in the group's consumer foods business stood at €125 million, a decline of 2.6% on the previous year. However, trading margin was up +30bps to 8.3%.
"Against a background of difficult market conditions in the Irish and UK consumer foods’ markets; due to increased fragmentation, polarisation and intense competitiveness in the retail grocery sector coupled with continued restrained consumer spending," the group said in a statement.
On its Brands Ireland business, Kerry said that it "continued to invest in quality offerings across its core brands, including Denny Deli Style 100% Natural Ham and Shaws and Denny poultry premium crafted meats."
In addition, the business enjoyed success from its 'Butter it with Dairygold' campaign, while Cheestrings "continued to grow satisfactorily in France and Germany, and experienced significant growth in its new markets in Austria and Poland."
Overall, Kerry Group reported group revenue of €5.8 billion, reflecting 2.4% continuing volume growth.
© 2015 - Checkout Magazine by Stephen Wynne-Jones