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Kerry Group Plc - Preliminary Statement of Results

This content has been sourced from: https://www.investegate.co.uk/kerry-group-plc/rns/...

Preliminary Statement of Results

for the year ended 31 December 2019

Kerry Group, the global taste & nutrition and consumer foods group, reports business performance for the year ended 31 December 2019.

 HIGHLIGHTS

  • Group revenue of €7.2 billion reflecting 9.6% reported growth
  • Taste & Nutrition 4.0% volume growth
  • Consumer Foods 2.2% volume reduction (0.9% growth excluding contract exit)
  • Group trading profit of €903m reflecting 12.1% reported growth
  • Group trading margin +30bps to 12.5%
  • Taste & Nutrition trading margin of 15.3%
  • Consumer Foods trading margin of 7.6%
  • Adjusted EPS up 8.3% on a constant currency basis to 393.7 cent (11.4% reported growth)
  • Basic EPS of 320.4 cent (2018: 305.9 cent)
  • Final dividend per share of 55.1 cent (total 2019 dividend up 12% to 78.6 cent)
  • Free Cash Flow of €515m (2018: €447m)

Edmond Scanlon - Chief Executive Officer

"We are pleased with the business performance and the strategic development of the Group in 2019. Taste & Nutrition delivered good volume growth, particularly against the backdrop of softer market volumes in some developed markets. We also enhanced our trading profit margin and achieved growth in adjusted earnings per share of 8.3% in constant currency.

Significant progress was made right across our strategic growth priorities of taste, nutrition, foodservice and developing markets. We successfully integrated a number of strategic acquisitions, expanded our strategic footprint in high growth developing markets, while further enhancing our industry-leading global integrated solutions portfolio."