LONDON (ShareCast) - (ShareCast News) - Revenue at Kerry Group grew 4.8% year-on-year to €3.2bn in the six months leading up 30 June, according to the company's interim management report released Thursday.
Trading profits increased by 5.2% on the same period last year to €448.4m, despite what the company referred to as "significant adverse currency movements" and increases in raw material prices.

Thanks to a strong performance in the Americas, an improved showing in the European, Middle Eastern and African regions and double digit growth in Asia-Pacific markets, overall business gained 3.8% on last year.

The group posted adjusted earnings per share (EPS) of 7.5% to €143.8, while basic EPS crept forward 0.9% to €127.60.

Kerry group chief executive, Stan McCarthy said the company was "outperforming" growth rates in the market, adding: "Taking into account increased currency translation headwinds of 4% and a 2% improvement in underlying performance at constant currency rates, we now expect to achieve growth in adjusted earnings per share of 3% to 7% on a reported basis to a range of €333.1 to $346 per share."

Free cash flow dropped slightly to €357m from €379m Kerry for the equivalent period of last year, due in part to the acquisitions during the reporting period of Chinese group Tianning Flavours, Australian company Taste Master and Ben Alimentos in Brazil.

Debt at 30 June was €1.22bn, a €102m decrease.

As of 1140 BST, shares had inched ahead 3.69% to €77.34 each.

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