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Jul 31 2024, 07:10 IST/BST
Kerry Group
H1-24 results – improving momentum
- Sectors : Foods
- Companies : Kerry Group
DAVY VIEW
Kerry’s first-half results reflect improving operating momentum, with H1 EBITDA coming in 2% ahead of our forecast. The group has raised its full-year EPS growth guidance to 7-10% from 5.5-8.5% alongside an intention to initiate a further buyback programme. We envisage lifting our FY24 EPS forecast to approximately 462c from 459c. Positive earnings momentum set against a flexible capital allocation model is a set-up conducive to share price accretion. We reiterate our ‘Outperform’ call.
