Kerry Group reports strong 2012 performance

Food ingredients and flavour technologies company the Kerry Group saw a strong overall performance in 2012.

The firm, which serves the food, beverage and pharmaceutical industries, reported its financial highlights for the year, which saw sales revenue up 10.3% to €5.8bn and trading profits increase 10.8% to €555m.

The ingredients and flavours market saw a sequential improved performance in volume growth and trading performance throughout the year.

Chairman of the Kerry Group Denis Buckley said: "Kerry performed well across developed and developing markets while continuing to invest considerable financial and management resources in building our capabilities and positioning for the future."

Buckley explained that its consumer foods’ business had managed well in the competitive challenges across the selected categories in the Irish and UK markets.

"[This is] due to constrained consumer spending and increased promotional activity at retail level," he added.

The group reported growth of its like-for-like sales of 1.7%, "when account is taken of acquisitions net of disposals and currency translation," said Kerry Group chief executive Stan McCarthy.

Pleased with the figures, particularly due to the challenging global economic market, McCarthy said: "We look forward to another year of progress in 2013. The opportunities for our technologies, applications, culinary expertise and processing capabilities augur well for the future growth of group businesses."


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