Volumes Up But Sales Decline For Kerry Foods In H1
Kerry Foods, the consumer products division of Kerry Group, has seen its volumes rise 1.9% in the first half of the year, however reported sales revenue fell by 6.4% to €749 million.
The division’s performance was revealed in Kerry Group’s interim results, published this morning (6 August).
In Ireland, its Brands Ireland business “performed satisfactorily” in the period, with Denny Gold Medal seeing sales growth, however sales of Galtee and Shaws declined. Its new ‘Denny Fire & Smoke’ cooked meats range “has enjoyed a strong consumer response and encouraging sales growth momentum,” the group said.
The group said that its UK brands maintained a “strong brand positioning”, however its sales have been impacted by “deep promotional activity”.
Elsewhere, Cheestrings achieved “good growth” in France, Germany and Poland.
Trading profit was 3.9% lower in the division, at €60 million.
“While economic conditions continue to improve in the Irish and UK consumer foods markets, trading remains highly competitive due to deflationary trends and retail competitiveness arising from increased market fragmentation and growth of etail,” the group said.
Overall, group revenue at Kerry Group increased 4.7% to €3 billion on a reported basis.
© 2015 - Checkout Magazine by Stephen Wynne-Jones