Kerry trading profits grow despite flat revenue

Company calm on Brexit despite seeing weaker consumer confidence

4th August, 2016
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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