Building on the Group’s strong first-half performance, Kerry continued to achieve solid organic growth in the three-month period to 30 September 2010.
Over the nine-month period, Group sales revenue increased by 8.7% reflecting like-for-like growth of 3.5%. Continuing business volumes grew by 5.3% allowing for restructuring volume loss of 0.7%, 0.9% lower pricing/mix and 0.2% adverse trading currency impact.
Ingredients & flavours continuing business volumes were 6% ahead relative to the same nine months of 2009 and consumer foods continuing business volumes grew by 3.5%.
The Group trading profit margin increased by 30 basis points – allowing for unallocated development costs relating to the Group’s global IT project. The positive momentum in business margin growth reflects a 50 basis points improvement in ingredients & flavours and a 40 basis points increase in consumer foods.
Read the full Kerry Group financial statement at this link.
Source: Kerry Group
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