Kerry Group business volumes grow in challenging conditions

It says that markets have been hit by currency swings and geopolitical uncertainties

Kerry Group business volumes grow in challenging conditions

Radio Kerry

The Kerry Group has enjoyed a 3.2% increase in business volumes in the nine months to the end of September as it remained in expansion mode despite the uncertainty caused by the UK's vote to leave the EU.

The strongest growth was in its taste and nutrition division - and it reports that consumers are demanding more products geared towards 'health and wellness.'

Group trading margins rose by 0.7% during the period despite negative currency movements and the company is forecasting full year earnings growth of 6-10%.

The Kerry Group states that geopolitical uncertainties and foreign exchange volatility mean that global market conditions remain weak.

It adds that in Ireland Dairygold has maintained a solid performance - Charleville performed well - and its Fire and Smoke meat range is making inroads.

Net debt at the end of the period stood at €1.4bn compared to €1.7bn at the end of 2015.