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| Kerry CEO Stan McCarthy |
Sales revenue of €2,363m
- Like-for-like revenue growth of 7.3%
- Trading margin maintained at 7.4%
- Trading profit increased by 8.1% on a like-for-like basis to €175m
- Adjusted earnings per share* up 6.8% to 62.8 cent
- Profit before tax €132.8m compared with €132,5 in 2007
- Interim dividend per share up 13.1% to 6.9 cent
*before intangible asset amortisation and non-trading items
Kerry, the Irish food group, today reported pre-tax profits of €132.8m for the first half of this year, up generally unchanged from the same period last year at 0.2%.
Total sales were €2.36 billion, which the group says was up just over 7% when currency movements, acquisitions and sell-offs were stripped out. Trading profit was €175.5m, an underlying increase of 8%.
Adjusted earnings per share grew by 6.8% to 62.8 cent and a 13% higher interim dividend of 6.9 cent will be paid.
Commenting on the results Kerry Group Chief Executive Stan McCarthy said; “Kerry made good progress in the first half of 2008, delivering 7.3% like-for-like revenue growth, while maintaining trading margins despite significant currency and input cost pressures. Building on the Group’s performance in the half year and the underlying prospects for our business in all regions, we expect a good outturn for 2008 and reconfirm our expectation to grow earnings for the full year to a range of 151 cent to 155 cent per share.”
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