Food technology and ingredients company Kerry Group has today reaffirmed its full year guidance amid volume and margin growth.
In an interim management statement for the nine months to the end of September, Kerry said its full year guidance of adjusted earnings per share growth remains at 7% to 9% at a constant currency basis.
Kerry reported 3.1% growth in overall business volumes for the nine month period, with volumes in its Taste and Nutrition up by 3.9% while its Consumer Foods division slowed by 0.7%.
The company said its revenues for the nine months rose by 10%.
Global consumer trends such as clean label, authentic taste, plant-based diets, healthfulness, convenience and sustainability continued to generate increased innovation opportunities, it said.
Kerry said that 3.9% volume growth in its Taste & Nutrition division was driven by meat, snacks and beverages.
The division saw 2.6% growth in the Americas Region, with recent acquisitions including Fleischmann's, Southeastern Mills and Ariake USA all performing well.
The division's European Region reported revenue growth of 2.3% with good performances in beverages, meat and snacks.
Meanwhile, its APMEA Region saw volume growth of 9.9% as Kerry said it continued to make good progress in expanding its capacity and deploying its technology capabilities in the region.
Kerry said that volumes at its Consumer Foods division were "muted" due to a subdued marketplace and the impact of the loss of a ready meals contract.
Edmond Scanlon, Kerry's chief executive, said the company was pleased with its performance so far this year, with volume growth ahead of its markets combined with margin expansion.
"We enjoyed strong growth in developing markets, as we further deploy our technology and continue our strategic footprint expansion," Mr Scanlon said.
"We continued to make strategic acquisitions, and good progress has been made on the integration of acquisitions completed over the last 12 months which are performing well," he added.