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Kerry Group publishes interim management report
Kerry, the global ingredients & flavours and consumer foods group, reports interim results for the half year ended 30 June 2010.
Highlights
- Sales revenue increased by 6.7% to €2.4bn
- 5.8% increase in continuing business volumes
- 12.9% increase in trading profit to €204m (7.4% LFL)
- 40 basis points increase in group trading profit margin to 8.4%
- Ingredients & Flavours trading margin up 50 basis points to 9.2%
- Consumer Foods trading margin up 40 basis points to 7.1%
- Adjusted EPS up 19.3% to 80.2 cent
- Interim dividend per share up 14.3% to 8.8 cent
- Free cash flow of €117m (H1 2009: €76m)
- Earnings guidance for full year increased.
“Kerry delivered strong profitable growth in the first half of 2010, growing continuing business volumes by 5.8% on a group-wide basis,” said Kerry Group chief executive Stan McCarthy. “Adjusted earnings per share in the period increased by 19.3% to 80.2 cent. Based on our strong performance to date in 2010, we now expect to achieve mid-teen growth in adjusted earnings per share for the full year.”
Source: Kerry Group
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