Kerry profits hit by 25m euro in charges

KERRY'S interim results for 2002 show a sharp dip in pre-tax profits which were hit by exceptional charges of 25m euro related to the Golden Vale acquisition late last year.

Other costs also dragged the pre-tax figure down for the period but the group says it is in line to produce results in line with market expectations for the year.

Despite that the share price fell 41 cents over the day and was standing at 14.95 by late afternoon.