Kerry Group 3Q Growth Was 6.6% Thanks to Pricing, Volume Management
October 27 2022 - 3:24AM
Dow Jones News
By Kyle Morris
Kerry Group PLC said Thursday that it achieved growth of 6.6% in
the third quarter as it manages the inflationary environment
through pricing and volume.
The Ireland-based food company said revenue increased by 16.1%
in the period, driven by business volume growth of 6.6% and
increased pricing of 10.6%, among other things.
The earnings before interest, taxes, depreciation and
amortization margin decreased by 40 basis points, primarily driven
by the significant impact of passing through input cost
inflation.
"Given we have now reported the third quarter, we are updating
our full year earnings guidance to 6% to 8% growth on a constant
currency basis," Chief Executive Edmond Scanlon said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
October 27, 2022 03:09 ET (07:09 GMT)
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