Kerry Group will begin a €300 million share buyback programme at the beginning of November.
The Tralee-headquartered company has released its interim management statement for the third quarter of this year.
It states dairy volumes fell 6.2% citing the persistence of challenging industry dynamics promting the share buyback programme; further details will be announced ahead of the formal launch.
The company experienced volume growth of 0.1% for the period, while earnings margins expanded by 100 basis points.
Kerry says it now expects its profit growth for this year to be at the lower end of its previous forecasted of 1 to 5% growth.
Chief Executive of Kerry Group, Edmond Scanlon says they delivered a good overall performance in the period recognising varying conditions across their markets.
He says Taste and Nutrition remains strongly positioned for volume growth and margin expansion while recognising current market conditions, however Dairy Ireland performance continues to be impacted by challenging industry dynamics.
