Kerry ups target for volume growth
Ireland’s Kerry Group has lifted its target for volume growth from 2013 as the company set out its forecasts for its next five-year cycle.
The company, which owns a variety of food businesses in Australia, set out a target yesterday for its annual like-for-like volumes to rise 3-5% between 2013 and 2017.
The company’s current aim is for like-for-like volumes to climb by 2-4% a year but it expects that growth to accelerate.
“We expect to achieve like-for-like volume growth of 3% to 5% per annum on a group-wide basis, with our ingredients and flavours businesses targeting 4% to 6% LFL growth (10% in emerging markets) and Kerry Foods, the group’s consumer foods business, targeting 2% to 3% LFL growth,” chief executive Stan McCarthy said.
A spokesman for Kerry confirmed that the volume targets for both divisions had been raised. Kerry’s consumer foods business focuses on the mature markets of the UK and Ireland but the company still saw opportunities for growth in these countries, the spokesman explained.
“The growth opportunities in the UK and Irish consumer foods markets are limited but, having said that, we are targeting 2-3% like-for-like growth. We’re confident that we can continue to grow in this space,” he said.
Kerry has maintained its current target for adjusted earnings per share to grow at 10% a year.
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