Kerry Group has reported first-half sales €4.1 billion, an organic revenue increase of 5.1%, in the first half of its financial year.
Volumes were up 0.6% in the half-year period (+1.0% in the second quarter), the Irish-headquartered group said, with pricing up 4.5% (+1.4% in the second quarter).
Its Taste & Nutrition arm saw volumes rise 1.4% in the half (+1.6% in the second quarter), while Dairy Ireland saw a 2.5% decline in volumes (-0.5% in the second quarter).
'Varying Conditions'
"We delivered a good performance in the first half of the year recognising varying conditions across our markets," commented Edmond Scanlon, chief executive.
"Strong volume growth was achieved in APMEA and Europe led by our performance in the foodservice channel, while North America saw customers work through elevated inventory levels. We continue to see good levels of customer innovation activity, and our margins reached an inflection point in the second quarter."
Group EBITDA came in at €518 million for the period, with group EBITDA margin declining 20 basis points.
Emerging Markets Strategy
Kerry made "good strategic progress" during the half, boosted by its emerging markets strategy, through which it has made a number of "significant acquisitions and investments", Scanlon added.
"While recognising current market conditions, we remain strongly positioned for growth and reiterate our full year constant currency earnings guidance.”
Indonesia Facility
In June, Kerry Group opened a new taste manufacturing plant in Karawang, West Java, Indonesia.
The group said that the 50,000 square meters facility will substantially enhance its taste product range in Southeast Asia (SEA), catering to the demands of rapidly growing markets in the region. It encompasses manufacturing site, a research and development pilot plant, and a sampling hub.
