Kerry Group, the Tralee-based global producer of food ingredients and consumer goods has announced a very solid 9 percent increase in operating or trading profits to €300m for the first half of the year to June.

The performance was driven by growth in business volumes, particularly in American markets, higher profit margins, particularly in the food ingredients and flavours business where they now stand at 12 percent; and the translation of strong dollar-based revenues and profits into euros during the period.

The scale of Kerry’s operations in almost every global region is reflected by the near 3 percent increase in turnover to €3bn in the first six months of the year and that it invested €156m in five new acquisitions during the period.

Investors will be pleased by the 11 percent increase in the interim dividend to 15c and that the group is increasing its profit guidance for the full year to possible growth of between 6-9 percent - or 304c per share.

Chief executive Stan McCarthy commented on the results: “We delivered a strong financial performance in the first half of 2015 reporting continued business margin expansion and an 8.1 per cent increase in adjusted earnings per share.

"Based on Group year-to-date performance, current exchange rates and business momentum, we are increasing our market guidance for the full year."