Kerry set to make €166m as profits rise

KERRY Group is on course to make net profits this year of €166m after reporting a 10% increase in post-tax profits for the first six months of the year.

With like-for-like sales growing by 5.9%, the value of sales remained almost static at €1.8bn as the weakness of the US dollar and sterling diminished the value in euro terms of repatriated profits.

Kerry Group, which has global operations specialising in ingredients, flavourings and consumer foods, said it had kept its turnover on track despite a significant shift in the US dollar and sterling exchange rates against the euro.