Kerry Group says there was a strong recovery in its performance during the final quarter last year, as it posted its 2020 preliminary results.
The global taste and nutrition and consumer foods company had revenue of €7 billion last year, a reduction of 2.9% on the previous year.
The group reported trading profit of nearly €800 million.
Its board recommends a final dividend of over 60 cent per share, an increase of 10% on the final 2019 dividend.
The 2020 report also says Kerry Group is conducting a strategic review of its dairy-related businesses in Ireland and the UK.
Summary:
Group revenue of €7.0bn reflecting a volume reduction of 2.9% (Q4: +2.2%)
· Taste & Nutrition volumes -3.0% (Q4: +0.7%)
· Consumer Foods volumes -2.6% (Q4: +8.8%)
· Pricing +0.3%
· Group trading margin of 11.5% (2019: 12.5%)
· Taste & Nutrition trading margin of 14.2% (2019: 15.3%)
· Consumer Foods trading margin of 7.8% (2019: 7.6%)
· Adjusted EPS reduction of 9.4% on a constant currency basis to 345.4 cent (-12.3% reported)
· Basic EPS of 313.0 cent (2019: 320.4 cent)
· Final dividend per share of 60.6 cent (total 2020 dividend up 10.1% to 86.5 cent)
· Free cash flow of €412m (2019: €515m)
· Strategic review of Dairy business
Full report can be viewed below:
