Food group Kerry today posted pre-tax profits of just under €298 million for last year, up from €268.6 million in 2004.
The company, whose products include Denny sausages and Kerry Spring water, reported an increase in sales of 7 per cent to €4.4 billion.
Adjusted earnings per share rose by 7 per cent to 131.6 cent, and a 15.8 per cent higher final dividend of 11 cent has been declared.
Excluding acquisitions, sales were up 4 per cent, while trading profits increased by 7 per cent to €380 million.
Sales in the food ingredients business rose by 9 per cent to €3 billion, with profits also up 9 per cent to €284 million. Kerry said this reflected sales growth of 9 per cent in Europe, 8 per cent in the Americas and 16 per cent in Asia.
Chief executive Hugh Friel described the performance as solid, saying 2005 had been a challenging year for the global food industry as raw material and energy costs jumped.