KRYAY Kerry Group Plc (PK)

By Matteo Castia

Kerry Group PLC on Friday posted a fall in first-half net profit on lower revenue, as the pandemic hit the business in the second quarter.

The Ireland-based food company made a net profit of 213.1 million euro ($252.5 million) for the six months, compared with EUR239.4 million in the year-earlier period.

Revenue was EUR3.4 billion, down from EUR3.57 billion the prior year. This was driven by a 12% decline during the second quarter caused by the pandemic, Kerry said.

Second-quarter strong volume growth in the retail channel was offset by a 49% drop in the food-service segment, it said.

The board declared an interim dividend of 25.9 European cents, compared with 23.5 European cents a year earlier.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

July 31, 2020 02:43 ET (06:43 GMT)

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