Kerry's Third Quarter In Line, With Strong Margin Improvement
Kerry reported an in-line third quarter that was almost identical to first-half 2016 in terms of volume growth and margin performance. Guidance was reiterated for full-year earnings per share to increase by 6%-10%, including a negative currency effect of around 5%; we are still expecting 8% growth. We are not changing our EUR 68 fair value estimate or our narrow moat rating.Volumes grew 3.2% year-to-date, an identical performance to the first half, with volumes in taste and nutrition up 3.4% an...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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