Kerry trading profits grow despite flat revenue

Company calm on Brexit despite seeing weaker consumer confidence

4th August, 2016
6
At the Westin Hotel Dublin, for the Kerry Group interim results for the first half of 2016 were Brian Mehigan, chief financial officer with Stan McCarthy, chief executive. Pic: Fennells Photography

Food group Kerry has reported trading profits of €321.6m for the first half of 2016, an increase of 7.4 per cent on the same period last year. Revenue was flat at just over €3 billion, but margins improved from 9.9 per cent to 10.6 per cent. Pre-tax profits fell, however, from €272.3m to €256.1m, mainly due to restructuring costs.

McCarthy described the first-half performance as "solid" as it came "despite a challenging market landscape". The company...

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