Kerry Group has posted a business volume growth 8.2% reflecting volume growth of 6.6% in its third quarter.
According to the groups latest trading update, its Consumer Foods division showed a 5.6% increase during the period.
The company said it recorded business volume growth of 8.7% in its Taste & Nutrition division
Europe Performace
The region delivered strong growth with excellent performances across a number of end use markets.
Meat achieved excellent growth through a number of plantbased meat alternative innovations, launches with natural preservation and increased demand for healthier coating systems.
Dairy achieved strong growth through taste solutions in premium and dairy-free ice cream ranges, while Bakery & Confectionary delivered a very strong performance with a number of clean label and indulgent innovations.
The foodservice channel achieved excellent growth reflecting lower prior year comparatives, increased consumption and extensions to menu ranges as the year progressed.
Russia and Eastern Europe delivered excellent growth across both retail and foodservice channels, led by Meat and Snacks.
Overall Performance
Edmond Scanlon, chief executive officer, “We are pleased with overall performance through the period, reflecting continued good growth in our retail channel and strong performance in foodservice."
"The Americas had good overall volume growth, Europe delivered an excellent performance, while growth in APMEA remained strong with varying conditions across the region."
A number of our end use markets had strong performances, with Beverage in particular achieving excellent growth. We have made some significant strategic developments through the year.
We further enhanced our position as a market-leading taste & nutrition company, completing the acquisition of Niacet¹ and the sale of our Consumer Foods' Meats and Meals business.
At our recent Capital Markets Day, we shared our refreshed strategic priorities, key growth platforms and mid-term targets, all key enablers of achieving our vision - to be our customers’ most valued partner, creating a world of sustainable nutrition. Our outlook for the full year is unchanged and we expect to deliver strong volume and earnings growth.”
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