Kerry food group dishes up lean dish
Reporting its 2010 results yesterday (22 February) the foods group Kerry said economic conditions in the UK and Ireland continued to adversely impact food and beverage demand with shoppers budgeting cautiously for their grocery requirements and promotional activity playing an increasingly prominent role.
However, in the UK market Kerry Foods said it continued to achieve solid brand and private label growth. "Given the challenging economic situation in Ireland, Kerry Foods has successfully repositioned its portfolio of market leading brands to meet the needs of value conscious consumers without compromising on quality. This has been achieved through significant brand investment, innovation and a major focus on the division's lean efficiency programme across all production sites," a statement said.
2010 highlights included sales revenue up by 9.7% to €5 billion and an 11.3% increase in trading profit to €470 million.
Commenting on the results Kerry Group Chief Executive Stan McCarthy said: "Kerry Group achieved excellent results in 2010. Business development in the Group's established and emerging markets proved highly successful delivering strong volume growth and good margin progression.
