Revenues at food group Kerry jumped 6.4 per cent to €5.3 billion last year despite weak consumer confidence in many markets.

In a preliminary statement of results, the company said today that its trading profit reached a milestone of €501 million in 2011, up 7.1 per cent on the previous year.

The group proposed a final dividend per share of 22.4 cent, giving a total dividend of 32.2 cent, up 11.8 per cent on the previous year’s dividend.

Despite what it called unprecedented cost inflationary challenges, the group maintained “solid underlying business trading margin momentum”.

The company said it performed well in all key developed markets and continued to extend its market positions in developing markets.

However, it said cost recovery in the group’s consumer foods markets in Ireland and the UK proved “more challenging” due to the prevailing economic situation and level of price promotional activity in both markets.

Kerry's chief executive Stan McCarthy said the company expected to achieve 7-10 per cent growth in adjusted earnings per share in 2012 to a range of 228 to 235 cent per share.