Food group Kerry has said that all its businesses continue to perform ''satisfactorily'' in the first quarter of 2012.

The good performance came despite what it called the more challenging trading conditions in developed markets.

In a trading update issued for its AGM, the group said that developing markets continue to provide good opportunities for growth and business development.

It added that its performance during the first three months of 2012 was boosted by acquisitions completed last year.

It said it was sticking to its previously guided range of adjusted earnings per share growth of 7-10% and added that it continues to integrate the acquisitions completed in 2011, all of which are performing in line with expectations.

The company said that despite the challenging conditions in the Irish and UK consumer food markets, the Kerry Foods group saw an ''encouraging'' business performance. Revenues on a reported basis rose by 0.6% while business volumes increased by 0.6%.

Revenues in its ingredients and flavours increased by 13.8, while business volumes rose by 2.2%. Kerry said the performance outperformed the market.

It said that it saw good progress across its Americas regions, while markets in Europe, the Middle East and Africa continued to be impacted by weak consumer sentiment.