Kerry reports pre-tax profits rise to €393m
FOOD group Kerry has reported pre-tax profits of €392.8m for the year ending December 2010, up from the €251.9m reported the previous year.
Sales in the year increased by 9.7pc to €5bn and the company reported a 5.5pc increase in continuing business volumes.
The company's trading profit for the year rose by 11.3pc to €470m.
Kerry said that strong business volume growth was achieved throughout its established and emerging markets. However, the company said cautious consumer sentiment in Ireland meant the consumer foods market in this country remained challenging last year
The board is recommending a final dividend of 20 cent per share, up 15.6pc on 2009's final dividend.
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.