Kerry Group 3Q Growth Was 6.6% Thanks to Pricing, Volume Management

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.

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(END) Dow Jones Newswires

10-27-22 0309ET