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Kerry Group Plc in Health and Wellness (Ireland)

New C&M analysis: Health and Wellness (Ireland) Kerry Group Plc Company Profile


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2014-03-20 09:35:03 - Kerry Group Plc in Health and Wellness (Ireland) - a new company profile report on companiesandmarkets.com

Kerry Group represents a world leader in food ingredients and flavour technologies, serving the food, beverage and pharmaceutical industries, and also a leading consumer foods processor and supplier in selected EU markets. The strength of the Kerry business model is evidenced by the continued growth and success of the organisation, notwithstanding challenging economic conditions in some developed markets. Equally the spread and depth of Group technologies and the investment in innovation & technology development through the company´s centres, continues to enable Kerry Group to capitalise on growth opportunities arising from changing consumer and market trends. Kerry´s consumer foods business has successfully withstood sustained competitive challenges across the division´s selected categories in the Irish and UK markets due to constrained consumer

 

 

spending and increased promotional activity at retail level. Group sales revenue increased by 10.3% to €5.8 billion in 2012. Adjusted profit after tax before brand related intangible asset amortisation and non-trading items increased by 11.4% to €417m during this period. Adjusted earnings per share increased by 11.3% to 237.6 cent (2011 : 213.4 cent).Health and wellness in Ireland continued to feel the impact of the unfavourable economic conditions which continued to blight the country in 2012. With consumers limiting non-essential spending and trading down to less expensive alternatives, health and wellness-positioned products, which often command higher unit prices, continued to feel the impact of austerity over the review period. This situation remained unchanged in 2012, with consumers placing a high priority on saving, as well as continuing to reduce levels of personal indebtedness.

Irish consumers have become increasingly aware of and educated about the risks of diet-related health problems such as obesity, diabetes and heart disease. Equally, a growing preference for "natural" food and beverages, free from artificial additives and preservatives, developed in recent years. This ensured that health and wellness continued to perform reasonably well in 2012, despite the negative effects of the economic situation. The increasingly diverse product ranges offered by manufacturers further served to limit any declines, maintaining consumers´ interest and driving volume sales.

Increased price-sensitivity amongst Irish consumers amidst worsening economic conditions ensured that private label made gains in several health and wellness categories towards the end of the review period. Retailers responded to this trend by expanding and improving the quality of their private label ranges, which supported further value share gains for private label across the market. Together with the generally negative impact of reduced levels of disposable incomes on consumer spending, the growing threat from private label forced brand manufacturers to adopt more competitive pricing strategies.

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