Kerry Group’s reported revenues increase by 4.5%

Kerry Group’s reported revenues increased by 4.5% in the nine months to September.

That’s according to its Interim Management Statement released today.

The global taste, nutrition and consumer foods group says increased revenues reflects the strong business volume growth, increased pricing, adverse currency impact, and the effect of acquisitions.

Kerry Group Chief Executive Edmond Scanlon says their business model continues to deliver speedy innovation, in response to the pace of change in the food and beverage industry.

He says they achieved good volume growth in the first nine months of 2017 and for the full year.

He adds they expect to achieve growth in adjusted earnings per share of 4% to 6% on a reported basis, to between 336 and 343 cent per share.

In the nine months to the 30th of September, business volumes on a groupwide basis increased by 4.2%.

In particular, growth across foodservice, convenience and e-tail channels in all regions continues to present solid innovation platforms for growth and market development.

Despite increasing inflationary pressures in the UK consumer foods market, Kerry Foods maintained good volume growth.

The Board of Kerry Group has appointed Philip Toomey as Chairman Designate to succeed present Chairman Michael Dowling, who’ll retire from the Board at the Group’s AGM next May.