Food group Kerry has reported pre-tax profits of 173 million euros for last year, an increase of 16% on the previous year, on 7% higher sales of 2.6 billion euros.
It has also announced that managing director Denis Brosnan will step down this year to replace Michael Hanrahan from January 1 2002. Mr Brosnan's current deputy Hugh Friel becomes managing director.
Adjusted earnings per share rose by 16%, while like for like sales were up just over 3%. Operating profits were up nearly 15% to 234 million euros.
Irish sales increased by 5% to 646 million euros, driving profits up 8% to 37.3 million euros. European profits were up 7% to 92 million euros on 4% higher sales. American profits rose 21% to 92.4 million euros. Asian turnover dropped slightly but profits grew by 74% to 12 million euros.
Kerry shares closed down 32 cents to 13.40 euros in Dublin today.
