Kerry Group narrows earnings expectation

Kerry Group shares rose nearly 3% despite management cutting the upper limit of its full-year earnings expectations, writes Geoff Pervical.

In the Tralee-based food giant’s latest trading update, new chief executive Edmond Scanlon said continuing adverse currency translation headwinds should see Kerry achieve adjusted earnings per share growth of 4%-6%, on a reported basis, this year to somewhere in the region of 336c-343c per share.

That growth estimate scale has narrowed and compares to one of 3%-7% communicated by management at the time of its interim results presentation in August.