Trading profit at Kerry Group has increased by over seven per cent to 322 million euro.
The global food, ingredient and flavor company, which has its headquarters in Tralee, has released its Interim Management Report for the half year ended 30 June.
The trading profit has increased by 7.4 per cent compared to the same period last year. The report shows that Kerry Group revenue is three billion euro reflecting a 3.2 per cent business volume growth.
Both Taste and Nutrition and Consumer Foods show volume growth over the period. This is good news for shareholders with the adjusted earnings per share is up seven-and-a-half per cent to 133.8 cent and the interim dividend per share increased by 12 per cent to 16.8 cent. There is strong growth in Asia. Kerry products continue to perform well in the UK market despite it remaining highly competitive as retailers address the changing marketplace and economic uncertainty in the UK following the Brexit vote on which the report comments it is too early to quantify the longer term impact of the vote to leave the EU.
Commenting on the results Kerry Group Chief Executive Stan McCarthy said despite the challenging market landscape the company delivered a solid financial performance in the first half of the year.