Profits at Kerry Group rose 9.6 per cent to €189.7 million in 2001, Kerry's sixteenth successive year of double digit growth in earnings. Sales increased by 14.5 per cent to €:3 billion.
Commenting on the results, Kerry Group managing director, Mr Hugh Friel said he was pleased with last year’s performance considering the tough conditions experienced by the food industry.
For the fifth consecutive year the Kerry delivered in excess of €100 million free cash flow.
The group’s operations in Ireland recorded a 6.4 per cent increase in sales to &8364;687 million and increased operating profit by 8.4 per cent to €40.5 million.
Kerry reiterated its positive outlook for 2002 saying current trading is in line with expectations and it is well placed to exploit opportunities which will arise from the ongoing consolidation of the global food industry.