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Kerry Ingredients & Flavors Posts Growth in 1H 2010

Posted: August 31, 2010

Kerry Group (Tralee, Ireland) has reported 1H 2010 revenue of €2.4 billion, a gain of 6.7% year-over-year. The ingredients and flavors unit's continuing business volumes increased by 6.5%.

Product development initiatives, resurgent sales for global customers, and market development across numerous geographic areas, particularly Asia-Pacific, drove flavor and ingredient results. For the period, the unit grew 3.9%, with trading profit up 9.3% at €164 million.

Of the results, Kerry Group CEO Stan McCarthy said, “Kerry delivered strong profitable growth in the first half of 2010, growing continuing business volumes by 5.8% on a group-wide basis ... Based on our strong performance to date in 2010 we now expect to achieve mid-teen growth in adjusted earnings per share for the full year”.