Kerry Group’s pretax profit rises and announces share buyback program
- Kerry Group reports higher pretax profit for 2023
- Plans further share buyback program
- Pretax profit reaches 822.6 million euros
- Ebitda margin increases to 14.5%
- Group revenue falls to EUR8.02 billion
- Taste and nutrition volumes increase 1.1%
- Europe volumes rise 2.9%, North America volumes affected by market conditions
- Dairy Ireland performance decreases 6.5%
- Final dividend increased by 10%
- CEO confident in market outperformance and margin progression
Kerry Group has reported a higher pretax profit for 2023, reaching 822.6 million euros. Despite a decrease in revenue, the company plans to implement a further share buyback program once the existing one completes. The Ebitda margin has increased to 14.5%, and taste and nutrition volumes have seen a 1.1% increase, outperforming the market. While Europe volumes rose by 2.9%, North America volumes were affected by market conditions. Dairy Ireland performance decreased by 6.5%. The company has also declared a final dividend increase of 10%. CEO Edmond Scanlon is confident in the company’s market outperformance and margin progression in the coming years.
Public Companies: Kerry Group (N/A)
Private Companies:
Key People: Edmond Scanlon (Chief Executive Officer)
Factuality Level: 8
Justification: The article provides specific financial figures and statements from Kerry Group, which can be fact-checked. However, it lacks additional context or analysis, making it somewhat limited in terms of providing a comprehensive understanding of the company’s performance.
Noise Level: 6
Justification: The article provides information on Kerry Group’s financial performance for 2023, including pretax profit, revenue, and earnings before interest, taxes, depreciation, and amortization. It also mentions the company’s plans for a share-buyback program and the performance of its different business segments. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on financial figures without providing a broader context or discussing the implications of the company’s performance on stakeholders or the market.
Financial Relevance: Yes
Financial Markets Impacted: Kerry Group
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses Kerry Group’s financial performance and plans for a share-buyback program. However, there is no mention of any extreme events or their impact.
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