Kerry has announced a ‘solid’ financial performance for the half year ended 30 June 2014. Revenues grew to €2.9 billion on the back of continuing volume growth (2.7%) and pricing (0.6%). Trading profit increased by 3.0% to €275m, with group trading margin up 50 basis points to 9.5% and Ingredients and Flavours up 60 basis points to 11.7%. Ingredients and Flavours revenues were up 4.7% to €2,133 million with trading profit up 4.0% to €251 million.
In a comparatively weak overall marketplace, Kerry said that its taste and nutrition platforms outperformed market growth rates in all regions, and functional ingredients and actives recorded strong growth in particular in nutrition sectors. Growth continued to accelerate in developing markets despite economic impacts of significant negative currency movements.
