Kerry Group posts revenues of €5.8 billion for 2013

Kerry Group has reported revenues of €5.8 billion for 2013, despite "highly competitive" consumer food markets in the UK and Ireland.

The company reported adjusted earnings per share (EPS) growth of 10.2 per cent to 257.9 cent, while continuing business volumes increased by 3 per cent.

Group trading profit increased by 9.4 per cent to €611 million, while adjusted profit after tax increased by 10.3 per cent to €453 million.

Expenditure on research and development at €186 million was similar to the prior year level.

The board recommended a final dividend of 28 cent per share, an increase of 12 per cent on the 2012 final dividend. Together with the interim dividend of 12 cent per share, this brings the total dividend for the year to 40 cent, an increase of 11.7 per cent on 2012.

Kerry Group chief executive Stan McCarthy said the company’s performance reflected continued business margin improvement and strong cash generation.

“Based on current exchange rates, the group expects to achieve 6 per cent to 10 per cent growth in adjusted earnings per share in 2014,” he said.