Irish company Kerry, a leading ingredients, flavours, and consumer foods group, on Tuesday reported a 34.3 per cent lift in sales for the first half ended 30 June 2002 with food ingredients and flavours continuing to grow.
Sales increased to €1.8 billion for the first six months of 2002 and operating profit, before goodwill and exceptionals, increased by 18.7 per cent to €128m. Adjusted profit after tax reached €77.4m, up 23.4 per cent and adjusted earnings per share increased by 14.8 per cent to 41.8 cent.
Commenting on the half-year 2002 performance, Kerry Group managing director, Hugh Friel said: "The first half of 2002 has again highlighted the strength and broad geographic base of the Group.
Turnover was up 34 per cent with like-for-like sales growth of 5 per cent. Despite difficulties arising from international market developments in some sectors, the group achieved a 14.8 per cent increase in adjusted earnings per share.
Our food ingredients, flavours, consumer foods and foodservice operations continue to grow and develop in line with group projections and we expect a good outturn for the full year."
