Kerry performance 'satisfactory' in Q1

Kerry Group has reported a "satisfactory" peformance in the first quarter of 2012 despite what it called "more challenging trading conditions" in developed markets.

In an interim management statement issued to coincide with its AGM today, the consumer foods group said reported sales revenue increased by 9.7%, reflecting like-for-like (LFL) growth of 3.8% when accountis taken of acquisitions and currency translations.