Addressing investors, Kerry Group chief executive Stan McCarthy stated that the Group expects to deliver in excess of 10% adjusted earnings per share growth on average per annum over the next five-year cycle.
He said this will be achieved through delivery of above-industry average volume growth, business margin progression and the net benefits accruing from the Group’s business transformation and efficiency programmes.
“We expect to achieve like-for-like (LFL) volume growth of 3% to 5% per annum on a Group-wide basis, with our ingredients & flavours businesses targeting 4% to 6% LFL growth (10% in emerging markets) and Kerry Foods, the Group”s consumer foods business, targeting 2% to 3% LFL growth,” he said.
In terms of trading profit margin progression, he said that the ingredients & flavours’ margin is expected to grow by 50 basis points per annum and the consumer foods division is targeting 20 basis points improvement per annum, which will contribute a 30 basis points Group margin improvement per annum on average across the five-year cycle, with a further 100 basis points improvement to be achieved on completion of the Group’s ‘Kerryconnect’ business enablement programme.
Concluding, he stated that the Group remains on track to deliver earnings as guided for 2011, and is confident of delivering its strategic growth initiatives and objectives over the next five-year cycle.
Source: Kerry
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