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Kerry Group updates full year earnings guidance to 6% to 8%

Oct 27, 2022 13:05 By radiokerrynews
Kerry Group updates full year earnings guidance to 6% to 8%
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Kerry Group is updating its full year earnings guidance to 6% to 8% growth after excellent growth between July and September.

The global taste and nutrition company, which has its headquarters in Tralee, revealed the details in its Interim Management Statement for the third quarter today.

 

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Chief Executive Officer of Kerry Group, Edmond Scanlon, says third quarter volume growth was led by excellent performances in Snacks, Beverage, Meat and Bakery in particular.

He notes the company also made good strategic progress with further expansion and acquisitions.

The global taste and nutrition company reported revenue increased by 16.1% between July and September, with net debt standing at €2.4 billion.

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Its consolidated balance sheet remains strong, which will facilitate continued growth.

The Tralee-headquartered group remains confident in its ability to continue to manage through the current inflationary cycle, with its well-established pricing model and cost initiatives.

With the completion of the third quarter, Kerry Group is updating its full year guidance, and now expects to achieve adjusted earnings per share growth in 2022 of 6% to 8%, on a constant currency basis.

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