Kerry Foods reaffirms guidance growth for 2016
Kerry Food Group has said it is confident of delivering 6-10% growth after reporting in a 2.9% growth in business volumes in the first quarter.
The group which makes Dairygold, Dennys and Cheesestrings, said group trading profit was up 50 basis points, reflecting a 40 basic points improvement in its taste and nutrition business and a 20 basis points jump in Kerry Foods.
Kerry said net pricing was down 1.5 per cent in the quarter in line with lower input pricing. Revenues rose 0.9 per cent due to a number of factors including business volume growth, lower pricing and currency fluctuation.
The group, which spent more than €900 million on acquisitions last year in a spending spree said integration of the new businesses was progressing well.