Kerry sales up 7.5%

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    Date: Tuesday 13 May 2008

    LONDON (ShareCast) - Ingredients & flavours group Kerry said it has seen a 7.5% increase in like-for-like sales growth in the year to date.

    Chief executive Stan McCarthy said the group’s global ingredients & flavours and consumer foods divisions are performing well.

    Decline dollar and sterling versus the euro means reported revenue growth in the period was diluted to 2%.

    McCarthy reconfirmed the guidance given at the 2007 results presentation that it expects to grow earnings for the full year to a range of 151 cent to 155 cent per share

    He added that the balance sheet remains strong and that net debt is in line with expectations, which will facilitate the continued organic and acquisitive growth of Kerry businesses.

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