Kerry's First Quarter Confirms Growth Trajectory; Guidance Reaffirmed
Kerry Group reported first-quarter 2019 results, with reported group sales growth up 10.3% (3.3% volume and negative 0.2% pricing, 4.7% acquisitions and 2.5% currency), in line with our annual estimates. The group's trading margin ticked up 10 basis points, the result of a 10-basis-point improvement in taste and nutrition, lower than our 20 basis points expected for full 2019 mainly because of Brexit risk mitigation costs. The consumer foods division's margin was down 10 basis points (equal to o...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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