Kerry Group sales positive

Despite struggling to boost frozen food sales in the UK, the food firm Kerry Group has posted positive half year results for the six months ending 30 June.

Figures suggest the limp performance in the frozen sector was caused by lots of promotional discounts and the horsemeat issue.

However, on the whole, revenue for the group was up 1.1% to €2.9bn and trading profit increased by 9.8% to €267m and group trading margins were reported to be up by 9%.

Group Chief Executive Stan McCarthy said: “The Group achieved a strong financial performance in the first half of 2013 and continued to invest in enhancing the quality of our businesses. Adjusted earnings per share in the period increased by 11.7% to 108.9 cent. Our global ingredients & flavours technologies and core consumer foods businesses are performing well. We remain confident of achieving our growth targets for the full year and delivering 7% to 11% growth in adjusted earnings per share to a range of 250 to 260 cent per-share.”


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