Kerry Group dismisses critical ‘maverick report’ by short-seller ‘trading own book’

Kerry Group dismisses critical ‘maverick report’ by short-seller ‘trading own book’

Shadowfall Capital said it had reason to question whether the group’s ‘profitability may be inflated’

Kerry Group has dismissed a scathing report into its business by British short-seller Shadowfall Capital and Research as “fundamentally inaccurate and misinformed”.

In a research report, Shadowfall, which is led by former City analyst Matthew Earl, said it had “reason to question whether Kerry’s profitability may be inflated” and attacked the company’s acquisition strategy, level of restructuring costs and corporate governance, among other issues.

Short-selling involves a trader, such as Shadowfall which has...

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