Kerry Reports Strong Set of Results for 2018 Despite Consumer Foods Weakness
Kerry Group reported full-year 2018 results with reported group sales growth up 3.1% (3.5% volume and negative 0.5% pricing), in line with our estimates. Group trading margin was flat at 12.2% (versus 12.3% in our model), the result of 20 basis points improvement in taste and nutrition (in line with our estimates), which was offset by a 60-basis-point margin reduction in consumer foods due to adverse currency movements and KerryExcel investments (versus a 10-basis-point reduction in our model). ...Kerry Group is an international food corporation. Co. is engaged in ingredients and flavor technologies serving the food, beverage and pharmaceutical industries and is also a consumer foods processor and supplier in selected European Union (EU) markets. Co. has two operating segments: Ingredients & Flavors, and Consumer Foods. The Ingredients & Flavors operating segment is engaged in manufactures and distributes application specific ingredients and flavors spanning a number of technology platforms; and Consumer Foods segment is engaged in manufactures and supplies added value brands and customer branded foods primarily to the Irish and U.K. markets.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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