Kerry Group posts 10.8% rise in pre-tax profits

Kerry Group today reported adjusted pre-tax profits of €449.1m for the year to end December, up 10.8% on the €405.4m for 2010.

In a preliminary trading statement issued this morning the company said revenue increased by 6.4% to €5,302.2bn on a like-for-like (LFL) basis, while business volumes were up 3.3%.

Trading profit meanwhile reached what the company called a 'milestone' level of €501m.

Kerry said adjusted earnings per share (EPS) were up 11.1% to 213.4c, and it was recommending a final dividend per share of 22.4c, making a total 2011 dividend of 32.2c, up 11.8% on 2010.

“Kerry delivered good profitable growth in 2011 despite weak consumer confidence in many markets and significant raw material and input cost inflation," said Chief Executive Stan McCarthy.

"The Group performed well across developed and developing markets while continuing to build our capabilities and positioning for the future.

"Trading profit reached a milestone level of €501m in 2011.

"We are confident of achieving our strategic growth objectives for 2012 and expect to achieve 7-10% growth in adjusted earnings per share to a range of 228 to 235 cent per share."