Kerry Group have today released their preliminary statement of results for the year ended 31 December 2016.
 
The resuts shows group revenue of €6.1 billion reflecting 3.6% business volume growth. Trading profit increased by 7.1% to €750m with adjusted EPS up 7.1% to 323.4 cent. A record free cash flow of €570m was recorded (2015: €453m) with final dividend per share of 39.2 cent (total 2016 dividend up 12% to 56 cent).
 
Taste & Nutrition achieved 4% growth in business volumes and pricing was 2.1% lower. Kerry Foods’ business volumes increased by 2.1% and pricing reduced by 2%. The Group trading margin increased by 70 basis points to 12.2%. This reflects a 60 basis points improvement in trading margin in Taste & Nutrition, a 30 basis points improvement in Kerry Foods’ margin and reduced spending on the Kerryconnect programme. 
 
While many developing markets were impacted by continuing geopolitical issues and significant currency volatility, Kerry continued to satisfactorily progress market development in all regions and recorded excellent growth in Asia - particularly in the fouth quarter.

Groupwide performance in the fourth quarter reflected good business development momentum against a strong prior year comparable. 
 
Commenting on the results, Kerry Group Chief Executive, Stan McCarthy said, "In 2016 Kerry delivered good volume growth and a strong financial performance including sustained business margin expansion, record free cash generation and 7.1% growth in adjusted earnings per share."

He added, "The Group remains confident of its ability to sustain profitable growth throughout global markets. In 2017 we expect to achieve good revenue growth and 5% to 9% growth in adjusted earnings per share."

Source: www.businessworld.ie