Irish food giants weather Brexit fears

Two of Ireland’s largest food companies — Kerry Group and Glanbia — have seen an analyst upgrade on the back of strong quarterly updates showing they are weathering currency headwinds.

Kerry yesterday reported a 0.4% rise in reported revenues for the first nine months of the year, with volume growth of 3.2%.

Kerry has maintained its full-year growth guidance of the middle-to-lower end of 6%-1% adjusted earnings per share growth and said its consumer foods unit has maintained “a solid business performance” despite uncertainty caused by Brexit.