Trading profit at Kerry Foods, Kerry Group’s consumer foods division saw a 0.2% increase last year, according to the Group’s preliminary fully year results, issued this morning (23 February).
Revenue for the division, which produces Cheestrings, Denny, LowLow and other brands, stood at €1.48 billion for the year. Volume growth was up 3%.
Commenting on the performance of the division, a Kerry Group statement said, “Overall trading conditions remain highly competitive due to retail competitiveness arising from market polarisation and fragmentation, the growth of e-tail and deflationary trends.
“The deflationary environment has led to some category volume recovery. Discounters have continued to invest for growth which has led to broader retailer focus on EDLP.” In Ireland, Kerry’s Denny Gold Medal and ‘Fire and Smoke’ ranges performed well, while Dairygold retained its position as category leader.
In the UK, Kerry said that its Mattesons brand ‘Continued to drive growth in the meat snacking sector delivering double digit brand growth’, while LowLow Snack Bites and Pure also put in a good performance.
Overall, Kerry Group posted Group revenue of €6.1 billion, reflecting 3.8% business volume growth.
© 2016 - Checkout Magazine by Stephen Wynne-Jones