Trading profit at Kerry Group was up 12.1% for the first nine months of the year, according to a Q3 interim management statement issued by the producer last month. Reported sales revenue for the period increased by 10.9% to €4.4 billion, a like-for-like increase of 2%.
The group’s consumer foods division “maintained a satisfactory overall business performance,” the company said in the statement, “against a backdrop of competitive, promotionally driven consumer foods markets.”
In Ireland, the group’s dairy brands “progressed well”, but “brand performance in the meat category was impacted by intense price driven competition from private label and discounter offerings.
Sales through independent retail channels were also adversely impacted by such trends.” Reported revenues in Consumer Foods increased by 2.4% in the nine-month period, reflecting a 0.9% like-for-like performance.