Kerry Group's food service business continued to be impacted by COVID-19 restrictions in the first quarter.
The global taste and nutrition and consumer foods group, which holds its virtual AGM from Naas today, has reported business volume growth of nearly 2% (1.9%) in the first quarter of 2021.
An interim management statement outlines the company had good growth in its retail channel with foodservice returning to growth by the end of the quarter.
The strongest growth for the company over the period was in the Asia Pacific/Middle East/Africa (APMEA) markets, ongoing pandemic restrictions impacted on the Europe market, while the Americas finished the quarter strongly.
Kerry Group CEO, Edmond Scanlon said the good business momentum was supported by an increase in innovation in key markets.
He said that momentum along with an overall improvement in market conditions gives an increased confidence in their full year outlook where the company expected strong volume growth and are guiding adjusted earnings per share growth of 11 to 15% in constant currency.
