Taste & nutrition company Kerry Group plc (KYGA.L) reported Thursday that its fiscal 2023 profit attributable to equity holders of the parent grew to 728.3 million euros from last year's 606.4 million euros.
Earnings per share were 409.7 euro cents, up from 341.3 euro cents last year. Adjusted earnings per share were 430.1 euro cents, compared to 440.6 euro cents last year.
Profit before taxation went up to 822.6 million euros from prior year's 699.0 million euros. Adjusted profit before tax was 813.8 million euros, compared to 845.2 million euros year earlier.
Group EBITDA for the year was 1.17 billion euros, down from last year's 1.22 billion euros. Group EBITDA margin increased 60 basis points to 14.5 percent.
Group revenue for the year was 8.02 billion euros, a decrease of 8.6 percent from 8.77 billion euros last year. Group volumes edged down 0.9 percent.
Further, the company said its Board proposes a final dividend of 80.8 cent per share, an increase of 10.1 percent on the final 2022 dividend. This brings the total dividend for the year to 115.4 cent, an increase of 10.1 percent on 2022.
The Board plans to announce a further share buyback in 2024.
Looking ahead for fiscal 2024, the company projects adjusted earnings per share growth of 5 percent to 8 percent in constant currency.
The company sees low-single digit volume growth and good margin expansion in EBITDA margin.
In London, Kerry Group shares were trading at 78.40 pence, down 4.1 percent.
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