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Kerry Group 'A' Shares (KYGA)

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Down  122.70
Change Today:
- 1.80
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Kerry beefs up FY guidance

31 Aug 10

LONDON (ShareCast) - Ireland's biggest food company Kerry raised its full year guidance after revealing a strong first half performance.

The maker of branded and own-label chilled foods such as Wall’s and Richmond sausages, said pre-tax profit rose to €162.3m from €115.4m the year before. Sales increased by 6.7% to €2.4bn.

"Based on our strong business performance to date in 2010 and prospects for the remainder of the year, the group is confident of exceeding the earnings growth range of 182 to 185 cent per share as guided at the start of the year," it said in a statement.

The group now expects mid-teen growth in adjusted earnings per share for the full year.

Kerry saw good growth in the Asia-Pacific region with revenue up by 11.8% while the Irish consumer foods sector remains challenging.

The interim dividend has been increased 14.3% to 8.8cent.

Kerry added that it is well placed to capitalise on complementary acquisition opportunities.

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Market Data

Currency Euro
Price  122.70
Change Today - 1.80
52 Week High  125.60
52 Week Low  90.60
Volume 24,967
Shares Issued 176.51m
Market Cap  21,658m


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