Kerry Group Reports Double-Digit Sales Growth, Driven By …

Ireland’s Kerry Group has reported a 10.3% increase in group reported revenue in the first quarter of its financial year, driven by a 8.3% increase in pricing and favourable currency translation effects of 1.5%. Volumes at the firm rose by 0.2% in the period, it said. The group’s Taste & Nutrition arm reported a 1.2% increase in volumes, as well as a 7.2% pricing increase, while volumes were down 5.8% at its Dairy Ireland business, where pricing rose by 14.4%. Group EBITDA margin was down by 70 basis points, due to the impact of passing through impact cost inflation, although this was partially offset by the positive effect of cost efficiency initiatives, the group noted.

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