Kerry Group 1Q Revenue Rose on Volumes, Pricing

By Kyle Morris

Kerry Group PLC said Thursday that revenue for the first-quarter rose as volume growth improved and pricing increased.

The Ireland-based food company said revenue was up 8.1% for the period, with business volume growth of 5.6%, increased pricing of 5.8% and a translation currency tailwind of 5.4%.

The earnings before interest, taxes, depreciation and amortization margin improved by 10 basis points, it said.

The market continues to see good overall demand, despite uncertainties in some areas, Kerry said. While there is currently heightened inflation in the industry, it is confident in its ability to manage issues through the pricing model and cost initiatives, the company said. It is positioned for growth, with adjusted earnings per share growth expectations for 2022 of 5% to 9% on a constant currency basis, it said.

Shares in the company at 0731 GMT were up 1.35 euros ($1.43), or 1.3%, at EUR105.00.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

April 28, 2022 04:02 ET (08:02 GMT)

Kerry (PK) (USOTC:KRYAY)
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