Kerry Group has reported a 7.1% rise in profit to €750m for 2016, which comes on the back of 3.6% growth in revenues to €6.1 billion.
The company – whose brands include Denny, Galtee and Dairygold – saw revenues at its consumer foods division rise by 2.1% to €1.3 billion.
Kerry’s larger Taste and Nutrition division grew by 4% to €4.9 billion.
The company also announced its CEO Stan McCarthy is to retire in September, having been in the role for nine and a half years.
Mr McCarthy is set to be succeeded by Edmond Scanlon, who is currently Kerry's CEO for Asia Pacific.
Commenting on today's results, Mr McCarthy said: "In 2016 Kerry delivered good volume growth and a strong financial performance including sustained business margin expansion, record free cash generation and 7.1% growth in adjusted earnings per share.
"The Group remains confident of its ability to sustain profitable growth throughout global markets. In 2017 we expect to achieve good revenue growth and 5% to 9% growth in adjusted earnings per share".
In its analysis of Kerry's results, Davy said they are "marginally ahead of our expectations at the revenue, trading profit and adjusted EPS level".