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Kerry Group 'A' Shares (KYGA)

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Up  104.60
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Irish ingredient giant Kerry savouring rising profits

09 Aug 12

LONDON (ShareCast) - Kerry, the Irish ingredients and flavours maker, has increased its full-year earnings guidance after a strong first half driven by recent acquisitions and new products sales.

Sales revenue rose to €2.9bn, a 10% gain on the same period of last year, although on a like-for-like basis the growth was a more modest 2.5%.

The profits before tax figure is complicated by so called “non-trading items” which the firm has been forced to take on, like integrating acquisitions into the firm and restructuring costs. After tax, these costs amounted to €59.2m which puts something of a hole in the figures.

“Adjusted” profit before tax and non-trading items increased by 13.7% to €209m. This is the crucial figure and probably explains why Kerry’s shares have risen 4% in morning trading.

The firm is certainly confident enough to have raised the dividend by 10.2% to 10.8 euro cents per share.

Commenting, Kerry’s Chief Executive, Stan McCarthy said: “The group is confident of delivering our full-year growth objectives and has revised adjusted earnings per share guidance upwards. We now expect to achieve eight to twelve per cent growth in adjusted earnings per share in 2012".


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Market Data

Currency Euro
Price  104.60
Change Today  1.60
52 Week High  109.60
52 Week Low  85.60
Volume 75,516
Shares Issued 176.49m
Market Cap  18,461m


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