Results

Revenues fall at Kerry Group as disinflation sees prices shrink

Nutrition giant announced €300 million share buyback scheme, leading the group to upgrade its share earning projections

Edmond Scanlon, Kerry Group chief executive, said the firm is “pleased to report a good start to the year given market dynamics.” Picture: Barry Cronin.

Kerry Group, the Irish taste and nutrition giant, has announced a share buyback programme worth €300 million, leading the group to upgrade its share earnings projections for the year.

It comes as group revenue fell by 9.9 per cent in the first three months of the year, driven lower by “unfavourable translation currency of 1.4 per cent”.

Volumes increased by 1.9 per cent in the same period while prices came down 5.3 per cent.

Daily Briefing

For all the latest developments in business, politics and tech straight into your mailbox every morning, sign up to the Business Post’s daily briefing