Kerry Group To Post 'Modest Revenue Growth' In H1
Kerry Group will likely report 'modest reported revenue growth' for the first six months of the year, according to Davy Stockbrokers analyst Jack Morgan.
The Irish agri-food giant releases an interim management statement this coming Thursday (6 August), outlining its performance in the first half of the year.
Morgan said that 'solid volume gains' and 'favorable FX movements' will benefit Kerry in the period, and 'more than offset the effects of price deflation and divestment activity'. An expansion in trading margins is also expected.
A sustained level of internal investment and M&A activity means that Kerry is 'ideally positioned to build on its core strengths in taste and nutrition', Morgan added.
'As consumer demand increases for more virtuous foods and beverages (e.g. less artificial, more natural), Kerry has the capabilities to support customers’ innovation and reformulation requirements,' he said.
In the first half of 2014, Kerry Group posted group revenue of €2.9 billion, with its Consumer Foods portfolio posting sales of €801 million.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here