Companies

Kerry Group posts modest half year growth, reaffirms profit outlook for 2023

Company says market conditions are ‘uncertain’ as the global food industry continues to grapple with soaring inflation

Announcing interim results on Wednesday, the food multinational said half year earnings grew marginally in the first six months of 2023 to €518 million. Picture: Finbarr O’Rourke

Kerry Group, the Irish flavours and nutrition giant, reaffirmed its profit outlook for its 2023 financial year after reporting modest growth for the first half of the year.

Announcing interim results on Wednesday, the food multinational said half year earnings (Ebitda) grew marginally in the first six months of 2023 to €518 million, while margins narrowed slightly to 12.6 per cent.

Adjusted pre-tax profits grew by 2 per cent to just over €365 million, while ...