Kerry Group revenue increases by 9.6% to €7.2 billion
In its preliminary statement of results for the year ended December 31, 2019, Kerry Group has reported a revenue of €7.2 billion which – according to a statement released by the global taste and nutrition and consumer foods group – reflects a growth of 9.6%.
The results for the group were released this morning, Tuesday, February 18.
In the preliminary results, Kerry Group has reported a volume growth of 4% in its Taste and Nutrition sector.
Meanwhile, its consumer foods sector has experienced a 2.2% volume reduction. However, the results outline that excluding the recent exit of a contract, the sector experienced a growth of 0.9%.
The group’s trading profit has increased to €903 million which reflects a reported growth of 12.1%.
- Group trading margin +30bps to 12.5%;
- Taste and nutrition trading margin of 15.3%;
- Consumer foods trading margin of 7.6%;
- Adjusted EPS up 8.3% on a constant currency basis to 393.7c (11.4% reported growth);
- Basic EPS of 320.4c (2018: 305.9c);
- Final dividend per share of 55.1c (total 2019 dividend up 12% to 78.6c);
- Free Cash Flow of €515 million (2018: €447 million).
Commenting on the results, Edmond Scanlon, Kerry Group’s chief executive officer (CEO), said: “We are pleased with the business performance and the strategic development of the group in 2019.
Taste and nutrition delivered good volume growth, particularly against the backdrop of softer market volumes in some developed markets.
“We also enhanced our trading profit margin and achieved growth in adjusted earnings per share of 8.3% in constant currency.”
Continuing, Scanlon outlined: “Significant progress was made right across our strategic growth priorities of taste, nutrition, foodservice and developing markets.
“We successfully integrated a number of strategic acquisitions, expanded our strategic footprint in high-growth developing markets, while further enhancing our industry-leading global integrated solutions portfolio,” the CEO concluded.