Kerry Group: Announces Half Year Results 2024

Tralee / IE. (kg) Irland’s Kerry Group PLC announced its interim management statement for the first half 2024. Chief Executive Officer Edmond Scanlon: «We are pleased to report a good performance across the first half of the year. Taste + Nutrition delivered good volume growth ahead of our end markets, with strong profit growth and margin expansion across the business, contributing to our earnings per share growth of 9.1 percent in the period. Taste + Nutrition volume growth was led by strong performances in the foodservice channel across all three regions, as we continue to support established foodservice chains evolve and develop their businesses, while working with emerging leaders to upscale their operations and offerings. Volume growth in the retail channel was driven by good performances in the Americas and APMEA, led by very strong growth in Snack applications with Kerry’s leading range of savoury taste profiles and salt-reduction technologies. From a capital allocation perspective, we continued to invest to support the organic development of our business, while also completing the Lactase enzymes business acquisition and progressing our share repurchase activity through the period. Given the strength of our financial performance and our innovation pipeline, today we are updating our full year constant currency adjusted earnings per share guidance to 7 percent to 10 percent.»

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