Sausage maker bang on track

Manufacturing News, Source : TheManufacturer.com
Published : 30 Aug 2005 14:56
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Irish food giant Kerry Group, whose brands include Wall’s sausages, overcame heavy competition and escalating energy and raw materials costs to bring in the first half results expected by analysts.

Kerry recorded posted pre tax profit of €130.9 million for the six months to the end of June, up 12.8 percent on the same period last year. Sales increased by 8.3 per cent to €2,117 million.

“In a highly competitive trading environment, exacerbated by energy and raw material cost increases and adverse currency movements, the group performed well in the first half of 2005. We expect further business improvements in the second half, with an outcome for the full year in line with market expectations,” said chief executive, Hugh Friel.

The company’s UK and Irish consumer foods brands and customer branded offerings were well positioned in industry growth segments, it said. It was also expected that further consolidations in the ingredients and foods sector would continue to provide the group with acquisition opportunities.

 

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