Kerry Group reports 11.7% fall in profits for 2020

The food company feels impact of Covid-19 as it confirms it will review its dairy-related operations in Ireland and UK

Edmond Scanlon, the chief executive of Kerry Group, said 2020 had been a unique year and the company was looking forward to returning to growth this year. Picture:

Kerry Group has reported an 11.7 per cent decrease in profit for 2020 due to the impact of Covid-19.

In preliminary results for the year ended December 31, 2020, the company said its trading profit fell to €797.2 million from €902.7 million in 2019.

The Irish-listed food group’s taste and nutrition unit fell 3 per cent year on year, while consumer foods volumes were down 2.6 per cent.

Kerry reported a group trading margin of ...