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Kerry Group PLC- Tralee, Ireland-based nutrition products - Posts revenue of €4.1 billion for the six months ended June 30, up 13% from €3.58 billion a year earlier. Pretax profit rises by 8.4% to €265.1 million from €262.9 million. ‘Volume growth was very strong in both retail and food-service channels, driven by an increased level of innovation activity,’ Chief Executive Officer Edmond Scanlon notes.
Earnings before interest, tax, depreciation and amortisation increases by 13% to €518 million, with Ebitda margin kept at 12.8%, driven by operating leverage and portfolio development, offset by the impact of passing through raw material cost inflation.
Scanlon adds: ‘While recognising the marketplace is facing into a period of heightened uncertainty and volatility, this also presents significant opportunities. We remain confident in our outlook and are reaffirming our full year earnings guidance.’
Kerry declares an interim of 31.4 cents per share, up 10% from 28.5 cents a year prior.
Current stock price: €103.00, up 2.9%
12-month change: down 20%
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