Kerry predicts earnings hike

FOOD maker Kerry Group says it expects to increase earnings per share by over 10% per year over the next five years and said it was on track to hit its earnings forecast for 2011.

Kerry, Ireland’s third biggest listed company by market capitalisation, posted 2010 full-year earnings per share of 195c in February and said it expected that to grow to 210 to 218c in 2011.

In a presentation to investors on its five-year plan, Kerry said like-for-like volume growth rate would increase to 3-5% per year from 2-4% in recent years.