Kerry Group has said that it expects its third-quarter results to be 'in line with market expectations'.
The taste and nutrition firm made the assessment as it hosted an investor event in Beloit, Wisconsin, at which is showcased the development of its science and technology portfolio.
'Strong Positioning'
The US event also gave Kerry the opportunity to highlight its 'strong positioning in the Americas, emerging markets and the foodservice channel, which are expected to be key contributors to future market outperformance and greater penetration growth'.
The group will announce its third quarter results on 24 October.
Share Buyback Programme
Announcing its half-year results earlier this year, Kerry announced its intention to initiate a further share buyback programme.
This programme will account for up €300 million of Kerry Group ordinary shares and it is intended that it will commence post the completion of the current programme, it noted.
Kerry Group reported group revenue of €3.9 billion for the first half of the year, reflecting volume growth of 1.7%. EBITDA for the period rose by 6.6% to €552.2 million, with the EBITDA margin increasing by 160 basis points to 14.2%.
The Irish company attributed this performance to the success of its Accelerate Operational Excellence Programme, portfolio developments, improved operating leverage, favourable product mix, and the net effect of pricing adjustments.
Kerry boasts a global research, development and application (RD&A) team of 1,200 food scientists and a manufacturing presence in 31 countries, which allows the company to collaborate with customers across more than 150 countries
