Investors to return to Kerry Group, says analyst

INVESTORS are set to return to Kerry Group in the coming months Davy Stockbrokers predicts.

John O’Reilly, Davy’s food analyst, a long-term Kerry enthusiast, said the company’s recent good results speak for themselves. Earnings before interest, tax, depreciation, amortisation and exceptional items (EBITDA) rose 18% to €390m while operating profit before goodwill and exceptionals rose 17% to €305m in the 12 months to January.

“The result was good in any context and the company looks set to maintain its good performance, given the dynamic in the existing businesses for organic growth and the drive to accelerate its momentum though acquisitions, especially those which extend the scale and scope of its operations in ingredients and food manufacturing.