Kerry Group to launch €300m share buyback despite falling dairy volumes 

Despite the dip in dairy volumes, Kerry said its 'strong balance sheet and cash flow' allowed it to launch a €300m share buyback programme in November

In total, group volume growth was 0.1% in the third quarter, helped by increases in growth in Asia, Pacific, Middle East and Africa (APMEA) of 7.5% as well as European growth of 3.7%. Picture Brendan Gleeson

Irish food and dairy group, Kerry saw revenue in the first nine months of this year fall with growth across its taste and nutrition division largely offset by a decline in Irish dairy volumes.

In its third-quarter interim management statement released on Thursday morning, Kerry Group said that despite the dip in dairy volumes, its "strong balance sheet and cash flow" enabled the company to launch a €300m share buyback programme which is due to begin at the start of November.