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Jul 30 2021, 07:10 IST/BST
Kerry Group
Q2/H1 – T&N momentum strengthens
- Sectors : Foods
- Companies : Kerry Group
DAVY VIEW
Highlights of the Q2/H1 result include confirmation of an improving volume cadence for Taste & Nutrition (Q2 volumes +18%) with a strong margin rebuild and strengthening cash generation. Company guidance has been updated for previously announced portfolio changes and strong volume delivery. Business fundamentals remain healthy, underpinned by broad-based customer engagement, commercial pipelines and a reinvestment mindset. We envisage no material change to forecasts. We reiterate our ‘Outperform’ rating.
