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Kerry Group Reports 3.2% Sales Growth

Performance is in line with expectations.

Performance is in line with expectations.

Kerry Group has posted sales growth of 3.2% for the first six months of 2014, in spite of difficult trading conditions in several markets.

The group’s overall revenue for the period was €2.9bn, down slightly by 1.9% compared to first half 2013.  Profits for the period stood at €275m, an increase of 3% over the previous year.

Strong growth was seen in the Americas where Kerry Group posted revenue of €915m, a 4.7% increase.  Volumes grew similarly by 4.3% along with a slight pricing increase of 0.6%.

In Ireland the group said its branded products faced increased competition from discount labels from retailers such as Aldi and Lidl.

Commenting on the results Kerry Group Chief Executive Stan McCarthy said: “We are pleased  to report a solid groupwide performance in H1 2014 with good underlying sales growth and margin improvement.  We remain confident of delivering 6% to 10% growth in adjusted earnings per share in 2014 as previously guided.”

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