Kerry Group has released its financial results for the first quarter (Q1) for the 2021 financial year.
The group’s QI Interim Management Statement is issued in conjunction with its AGM, which is being held today (Thursday, April 29).
Kerry is reporting a revenue decrease of 3.5%, while the group’s trading margin decreased by 50 basis points (bps). This was due to Covid-related costs and an adverse foreign exchange impact.
The figures show an increase in business volume growth of 1.9%. The taste and nutrition side of the business saw a volume growth of 2%, while volume growth of 1% was recorded in the consumer foods division.
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