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Kerry Full-Year Results; Organic Partnership
Posted: February 29, 2008
Kerry Group plc (Tralee, Ireland) has reported full-year 2007 (ended December 31, 2007) sales revenue of €4.8 billion, representing a like-for-like growth of 6.7%. Kerry’s food ingredients business achieved total sales revenue of €3,310 million, an increase of 5.6%. Total group sales revenue throughout European markets grew by 4.6% to €1,339 million. In American markets, the group’s ingredients and flavors businesses increased sales revenue to €1,310 million. Sales revenue in Asia Pacific markets grew by 17.1% to €425 million.
Of the results, Kerry Group chief executive Stan McCarthy said, “Kerry achieved a good all round business performance and solid organic growth in 2007 notwithstanding the inflationary input cost environment. … By capitalizing on such opportunity and exploiting its strong financial and management resources, the Group plans to growth from its current €5 billion base to €10 billion through strong organic growth and value-enhancing acquisitions in the next five to six years.”
In other news, Kerry Group has entered into a long-term strategic partnership with Dierbergers Oleos Essencias SA (Sao Paulo, Brazil), a producer and cultivator of certified organic oils. The new partnership will expand Kerry’s portfolio of certified organic ingredients. The first project includes the planting of 10,000 lemon trees on Dierberger’s 15,000 acres in three regions in Brazil. Additional organic ingredients to be produced include mandarin, bitter orange, cypress, citronella and three varieties of eucalyptus—Globulus, Satiageriana and Citriodora.