Kerry First-half Profits Rise

August 17/Limerick, Ireland/breakingnews.ie -- Food group Kerry has reported pre-tax profits of €175.2 million for the first six months of this year, up 8% from the €162 million announced for the same period last year.

Group sales revenue increased to €2.6 billion, reflecting like-for-like (LFL) growth of 8.4%.

Basic earnings per share increased by 8.7%. Kerry Group boss Stan McCarthy said, "Kerry delivered a solid earnings performance and strong volume growth in the first half of 2011, despite significant raw material and input cost inflation.

"The group remains confident of achieving its growth targets for the full year and delivering 8-12% growth in adjusted earnings per share as guided at the beginning of the year."

From the August 17, 2011, Prepared Foods' Daily News.

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