Kerry Group's profits rise by 12%

THE country's biggest multinational food operator, Kerry Group, has delivered first half profits in line with market expectations.

Despite tough trading conditions and currency translation losses pre-tax profits rose 12% to €131 million on turnover up 8% to €2.1 billion.

Chief executive Hugh Friel said the company had generated the numbers in the face of "a highly competitive trading environment, exacerbated by energy and raw material cost increases and adverse currency movements."