Kerry Group shares rose 1.2% as the ingredients and consumer foods giant reaffirmed its full-year earnings targets guidance of 6% to 10% and said more acquisitions are planned.

Shares in Kerry Group have risen 2.5% after the food firm said it was in good financial shape to continue its worldwide acquisitions drive and to withstand fast-flowing changes in consumer preferences. In an interim management statement, Kerry said that it increased sales volumes and revenues and maintained its profit margins, with pricing having fallen only slightly in the group in the third quarter.

New Kerry Group boss Edmond Scanlon has shrugged off initial poor market reaction to the company’s latest growth figures, by calling the Kerry investment rationale “a long game”.

Kerry Group shares rose nearly 3% despite management cutting the upper limit of its full-year earnings expectations, writes Geoff Pervical.

Kerry Group shares dipped marginally and Merrion Stockbrokers reiterated its ‘hold’ recommendation on the stock, yesterday, despite the Tralee-based food giant announcing a US acquisition and a strong organic growth outlook for the next five years.

Kerry Group has said it will make more acquisitions before the end of the year, with small bolt-on buys likely in the increasingly key Asia-Pacific region.

Outgoing Kerry Group boss Stan McCarthy yesterday pointed to bright times ahead for the Tralee-based diversified food group, as he prepared to formally hand the running of the company over to chief executive designate Edmond Scanlon.

Outgoing Kerry Group boss Stan McCarthy is set to join the board of Ryanair later this month.

Kerry Group has maintained its strong earnings growth outlook for 2017 on the back of a solid performance in the first three months of the year.

Executive pay levels at Kerry Group decreased by just over 16% last year, despite further solid revenue and profit growth.

Kerry Group has dismissed speculation it might sell its consumer food arm by saying it remains “very, very committed” to it and still sees further growth opportunities arising from the division.