A spokesperson for Kerry Group says a drop in the company’s share price this week can be attributed to the economic slow down in China.
China has devalued its currency three times in the last week.
However the drop of 8 euro per share comes from an all time high of 70 euro per share.
Kerry Group has regained some ground today with the current share price standing at 64 euro and 50 cents.
12 months ago Kerry’s share price was in the 40s and the company says it has had a fantastic performance in the last year.
Kerry Group has a presence in 240 countries across the globe including China, where it has manufacturing and customer service outlets.
Despite current economic difficulties the multinational sees China as a growing market with a population of 1.3 billion.