By Sabela Ojea

Kerry Group PLC reported Tuesday a fall in pretax profit for 2020 and said that it expects flat to positive volume growth in the first quarter of 2021, with an overall outlook based on a strong recovery and good growth in the full year.

The Ireland-based food company posted pretax profit of 635.3 million euros ($770.6 million) for 2020 compared with EUR645.9 million for the same period a year earlier.

Revenue fell to EUR6.95 billion from EUR7.24 billion, it added.

The board declared a final dividend of 60.6 European cents, bringing the total dividend for the year to 86.5 European cents, an increase of 10% on 2019.

"Looking to the year ahead, within Taste & Nutrition, we see strong growth prospects in the retail channel, with continued recovery in food service, underpinned by a very good innovation pipeline and strong customer engagement," the company said, noting that the shorter-term impact from Covid-19 will continue through the first quarter of 2021.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 16, 2021 02:36 ET (07:36 GMT)

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