Kerry Group, Glanbia and CRH all issue trading statements

It's been a busy morning for Irish Plcs...

Kerry Group, Glanbia and CRH all issue trading statements

Radio Kerry

Trading updates have been issued this morning from three major Irish Plcs, the food and nutrition groups, Kerry and Glanbia, and building and construction materials giant CRH.

Glanbia has reiterated its guidance of earnings per share growth of up to 10% over the full year despite a fall in revenues of close to 2% in the three-month period to early April, largely due to a fall of close to 6% in product price associated with reduced dairy market prices.

Its managing director Siobhán Talbot said that the outlook for the remainder of the year remains "positive" - the company's share price fell by close to 1.5% in early trading.

The Kerry Group has announced a near 3% increase in business volumes for the same three-month period and also guides an increase from 6-10% in earnings growth over the full year.

The Kerry Group AGM takes place later today - the company's statement notes that market conditions remain "challenging."

A very strong 22% increase in first quarter sales in the US has pushed overall revenues at CRH for the quarter 9% higher.

It now expects earnings for the first half of the year to come close to €1bn which would represent mid-single digit growth, compared to 12 months earlier.