Ireland: Kerry Group’s profit in line with 2021

Revenue for the half-year is €4.06 billion, up from €3.58 billion last year

Irish food company Kerry Group has reported interim profit after tax of €226.6 million, a slight improvement on its half-year profit of €226 million reported for the first half of 2021.

Revenue for the half-year was €4.06 billion, up from €3.58 billion reported for the first half of last year.

Kerry Group’s chief executive Edmond Scanlon said: “We are pleased with our overall performance and business momentum across the first half of the year despite inflationary challenges and geopolitical volatility in places, in what remains a highly dynamic marketplace.

“Volume growth was very strong in both retail and foodservice channels, driven by an increased level of innovation activity. This growth was broad-based across our regions, led by excellent performances in beverage, meat and bakery end use markets in particular.

“We continued to make good progress in actively managing the unprecedented inflationary environment in conjunction with our customers, as we support them in developing their offerings to meet the rapidly evolving marketplace. We also made good strategic progress by expanding our footprint and completing a number of strategic acquisitions in the period.

“While recognising the marketplace is facing into a period of heightened uncertainty and volatility, this also presents significant opportunities. We remain confident in our outlook and are reaffirming our full year earnings guidance.”