Kerry Group PLC - Irish nutrition company - Shares revenue and profit growth in its first half but remains poised for "uncertainty" in local markets. Revenue for six months ended June 30 is EUR3.58 billion, up 4.9% from EUR3.41 billion in the same period last year. Pretax profit after non-trading items is EUR262.9 million, up from EUR244.9 million. Trading margin at 10.0% compared to 9.3% last year. Interim dividend grows to 28.5 cents per share from 25.9 cents, reflecting EUR222 million free cash flow, a conversion of 83% from EUR107 million last year.
"We are pleased with overall performance in the period, reflecting continued strong growth in our retail channel, with good progression and momentum in food service while lapping lower prior year levels. The Americas had good overall volume growth, Europe delivered an excellent relative performance, while growth in APMEA remained strong despite challenging conditions in some local markets," says CEO Edmond Scanlon. Notes strong market product development, particularly in beverages.
Current stock price: EUR126.50 cents
Year-to-date change: up 6.8%
By Josie O'Brien; josieobrien@alliancenews.com
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