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Business Standard
4 days ago
- Business
- Business Standard
Apollo Tyres slides after Q1 PAT slumps 96% YoY to Rs 13 cr
Apollo Tyres slipped 1.03% to Rs 431.45 after the company reported a 95.73% drop in consolidated net profit to Rs 12.88 crore in Q1 FY26 as against Rs 302 crore posted in Q1 FY25. However, revenue from operations grew by 3.56% YoY to Rs 6,560.76 crore in the quarter ended 30 June 2025. Profit before exceptional items and tax fell 11.88% YoY to Rs 408.56 crore in Q4 FY26. The firm reported exceptional items of Rs 370.20 crore during the quarter. The company reported an operating profit of Rs 868 crore for the quarter ended 30 June 2025, down 4.51% compared to Rs 909 crore reported in the same period a year ago. On the segmental front, the companys revenue from the Asia Pacific, Middle East, and Africa (APMEA) segment stood at Rs 4,828.70 crore (up 2.43% YoY), income from Europe was Rs 1,848.12 crore (up 7.77% YoY), while revenue from other regions stood at Rs 1,139 crore (up 16.20% YoY) during the period under review. Onkar Kanwar, chairman, Apollo Tyres said This quarters results reflect solid execution and a focus on profitable growth. Its encouraging to see Indian Operations performing in line with expectations -- driven particularly by strong momentum in the aftermarket segment. These results underscore the resilience of our business model and our ability to create long-term value for shareholders. Apollo Tyres' principal business activity is the manufacturing and sale of automotive tyres.
RTÉ News
5 days ago
- Business
- RTÉ News
Kerry Group's half year revenues and profits edge higher
Food technology and ingredients company Kerry Group has reported higher half year revenues and profits and said it remains well positioned for growth for the rest of the year. Kerry Group's revenues for the six months to the end of June rose by 1.3% to €3.463 billion from €3.419 billion while its profits after tax rose to €303.1m from €291.5m in the first half of 2024. The board has declared an interim dividend of 42.0 cent per share, a 10% increase from the interim dividend of 38.1 cent the same time last year. Kerry said the demand environment across food and beverage markets remained "soft" during the first half of 2025, due to cautious consumer behaviour given the level of macroeconomic and geopolitical uncertainty across different geographies. Edmond Scanlon, Kerry's chief executive, said the first half of the year reflected a good performance particularly given market conditions, where the company delivered volume growth and strong margin expansion, driving constant currency EPS growth of 9.8%. "Volume growth was led by a strong performance in the Americas, with Europe in line with expectations, and growth in APMEA reflective of variable market dynamics. Our strong EBITDA margin expansion was driven by efficiencies delivered through Accelerate Operational Excellence as well as portfolio and product mix benefits," he said. "We continued to strategically develop our business, including expanding our capacity within APMEA and LATAM, and further investing in our taste and bio-fermentation technology capabilities across the business," the CEO stated. "Looking to the remainder of the year, while recognising a heightened level of market uncertainty, we remain well positioned for volume growth and strong margin expansion, as we continue to support our customers as an innovation and renovation partner," he added. Breaking down its divisions, Kerry Group said that revenue in its Americas unit rose by 3.7% to €1.911 billion, led by Snacks, Bakery and Beverages. Revenue at its Europe division edged 0.2% higher to €731m, with its performance driven by growth in foodservice through seasonal and new launch activity with quick service restaurants, while performance in the retail channel reflected continued soft market dynamics. Kerry noted that business developments in the period included strong progress in the development of the new Biotechnology Innovation Centre in Leipzig in Germany, enzyme capacity expansion in Cork and the expansion of Kerry's cocoa taste capabilities in Grasse in France. Meanwhile, revenue at Kerry's APMEA Region rose by 4.2% to €821m, mainly driven by strong growth in Southeast Asia, solid growth in the Middle East and Africa, but with volumes in China remaining challenged. Kerry said its strong end market outperformance in the first half of the year demonstrates the strength of its strategic positioning within its markets, channels and across its customer base. "Looking to the remainder of the year, while recognising a heightened level of market uncertainty, Kerry remains well positioned for volume growth and strong margin expansion, as it supports its customers as an innovation and renovation partner," it said today. Kerry said it expects volume growth for the full year to be similar to the first half, with margin expansion in the second half ahead of expectations, and maintains its constant currency adjusted earnings per share guidance of 7% to 11% growth in the full year.
Agriland
31-07-2025
- Business
- Agriland
Kerry Group sees slight rise in revenue in first half of 2025
Kerry Group has today reported a 3% increase in volume for the first six months of 2025, while group revenue rose to €3.5 billion. Today (Wednesday, July 30) the agri-business published its half year results for 2025. The report stated that the demand environment across food and beverage markets remained soft through the period, "reflective of cautious consumer behaviour, given the level of macroeconomic and geopolitical uncertainty across different geographies". Customer innovation centred around new and differentiated flavour combinations, products with functional health benefits and relative value options, according to Kerry. Renovation activity around enhancing nutritional characteristics of products continued to be a key area of focus for customers, particularly in the North American market. Reported revenue increased by 1.3% to €3.5 billion in the period, comprising volume growth of 3%, pricing of 0.2%, a favourable transaction currency impact of 0.3%, unfavourable translation currency of 1.9%, contribution from acquisitions of 0.6% and the effect from disposals of 0.9%. EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased by 7.5% to €556 million, with EBITDA margin increasing by 100bps (basis points) to 16.1%. This was driven by benefits from the Accelerate Operational Excellence programme, operating leverage, product mix, and the positive effect from acquisitions and disposals, according to the company. Constant currency adjusted earnings per share increased by 9.8% to 209.2c and an increase of 7.8% in reported currency. Basic earnings per share increased by 9.4% to 182.4c. Free cash flow was €309 million with cash conversion (calculated on average working capital) of 89% reflective of an investment in working capital lapping a significantly favourable working capital benefit in the comparative period (H1 2024: free cash flow €445 million - which included Kerry Dairy Ireland). Cash generated from operations was €459 million (H1 2024: €431 million). The interim dividend of 42c per share reflects an increase of 10.2% over the 2024 interim dividend. During the period, the group repurchased €256 million of Kerry Group plc 'A' ordinary shares under its share buyback programmes. Chief executive officer of Kerry Group, Edmond Scanlon said: "The first half of the year reflected a good performance particularly given market conditions, where we delivered volume growth and strong margin expansion, driving constant currency EPS growth of 9.8%. "Volume growth was led by a strong performance in the Americas, with Europe in line with expectations, and growth in APMEA reflective of variable market dynamics. Our strong EBITDA margin expansion was driven by efficiencies delivered through Accelerate Operational Excellence as well as portfolio and product mix benefits. "We continued to strategically develop our business, including expanding our capacity within APMEA [Asia Pacific, Middle East, and Africa] and LATAM [Latin America], and further investing in our taste and bio-fermentation technology capabilities across the business. "Looking to the remainder of the year, while recognising a heightened level of market uncertainty, we remain well positioned for volume growth and strong margin expansion, as we continue to support our customers as an innovation and renovation partner," Scanlon stated. Business volume growth in the period was well ahead of food and beverage end markets, supported by continued product renovation activity in the retail channel and continued innovation in the foodservice channel, according to the results. Growth in the period was led by 'Beverage, Bakery and Snacks' end markets, supported by strong growth in savoury taste and Tastesense salt and sugar reduction technologies, as well as integrated solutions and Kerry's botanicals, natural extracts and proactive health ingredients. Volume growth in foodservice of 4.6% represented a significant channel outperformance in the period, given soft traffic data. This growth was driven by strong innovation activity including new menu items, seasonal launches and continued product renovation. Growth in the retail channel was supported by a step-up in retailer brand innovation and nutritional enhancement renovation activity with a range of customers. Business volumes in emerging markets increased by 5.6% in the period, led by a strong performance in Southeast Asia and LATAM. Within the 'Pharma & other EUM', volume growth was driven by cell nutrition and proactive health ingredients for supplement applications. H1 2025 Performance Revenue €1,911 million +3.7% EBITDA margin 18.5% +90bps Reported revenue in the region increased by 1.1% to €1,911 million reflecting volume growth of 3.7%, pricing of 0.1%, a favourable transaction currency impact of 0.4%, an unfavourable translation currency impact of 3.2%, contribution from acquisitions of 0.4% and the effect from disposals of 0.3%. Growth in the first half of the year reflected good performances in both North America and LATAM, according to the agri-business. Within North America, 'Snacks' delivered strong growth through innovations utilising Kerry's range of savoury taste profiles and Tastesense salt-reduction technologies with global and emerging brands, given continued customer focus on improving the nutritional profiles of their products. Growth in 'Bakery' was driven by taste and texture solutions as well as enzymes, while performance within the 'Meat' end market reflected softer overall category volumes. In 'Beverage', good performance was achieved within the refreshing and low/no alcohol categories through botanicals and natural extracts. Business developments within the region included the continued investment in enhancement of coffee extraction capabilities for food and beverage taste applications. Within the retail channel, growth was supported by renovation activity across customer and retailer brands, while foodservice growth was led by performance with quick service and fast casual restaurants. Within LATAM, strong growth was achieved in Brazil and Central America across the Snacks and Meals end markets in particular. Reported revenue in the region decreased by 0.4% to €731 million reflecting volume growth of 0.2%, pricing of 0.6%, a favourable translation currency impact of 0.4%, contribution from acquisitions of 1.4% and the effect from disposals of 3.0%. Performance in the region was driven by growth in foodservice through seasonal and new launch activity with quick service restaurants, while performance in the retail channel reflected continued soft market dynamics. Business developments in the period included strong progress in the development of the new Biotechnology Innovation Centre in Leipzig, Germany, enzyme capacity expansion in Cork, Ireland, and the expansion of Kerry's cocoa taste capabilities in Grasse, France. Reported revenue in the region increased by 3.3% to €821 million, reflecting volume growth of 4.2%, a pricing reduction of 0.1%, a favourable transaction currency impact of 0.2%, an unfavourable translation currency impact of 1.0%, contribution from acquisitions of 0.4% and the effect from disposals of 0.4%. Performance in the region was primarily driven by strong growth in Southeast Asia, solid growth in the Middle East and Africa, with volumes in China remaining challenged. Growth in 'Bakery' was driven by food protection and preservation systems, as well as reformulation activity in cocoa to address supply challenges. Continuing group revenue for the period was €3.46 billion (H1 2024: €3.42 billion), comprising volume growth of 3%, an overall pricing increase of 0.2%, favourable transaction currency of 0.3%, unfavourable translation currency of 1.9%, contribution from acquisitions of 0.6% and the effect from disposals of 0.9%, resulting in an overall increase of 1.3%. In Europe, disposal revenue primarily reflects the exit of a manufacturing agreement post the finalisation of the Kerry Dairy Ireland separation in the current year. Group EBITDA on a continuing basis increased by 7.5% to €555.9 million (H1 2024: €517.2 million). Continuing EBITDA margin of 16.1% (H1 2024: 15.1%) increased by 100bps primarily driven by the benefits from the Accelerate Operational Excellence Programme, operating leverage, product mix and the positive effect from portfolio developments. Finance costs (net) were €26.5 million (H1 2024: €27.8 million). Interest income increased year on year due to interest on the vendor loan note, fixed dividend income from the retained investment in Kerry Dairy Ireland and higher deposit interest rates on a higher cash balance, offset by interest on the €1 billion senior notes issued in September 2024. Net debt at the end of the period was €2.06 billion (31 December 2024: €1.93 billion). The increase relative to December reflects strong business cash generation offset by the dividends and the Share Buyback Programme. The board has declared an interim dividend of 42c per share, compared to the prior year interim dividend of 38.1 cent, payable on 7 November 2025 to shareholders on the record date 10 October 2025. In April 2025, the board approved a new Share Buyback Programme of up to €300 million. The programme commenced on June 20, 2025 and will end no later than February 27, 2026. In the period from June 20, 2025 to June 30, 2025 the company purchased 144,699 shares at a total cost of €13.5 million. The previous Share Buyback Programme announced in November 2024, commenced on November 12, 2024, and was completed on June20, 2025. In the period to June 30, 2025, the company acquired 2,537,893 shares at a cost of €242.7 million resulting in a total number of shares acquired as part of this programme of 3,181,972 at a total cost of €300.3 million, including transaction costs of €0.3 million. The board has announced the intention of Gerry Behan to retire from his position at Kerry Group plc and as an executive board director as of December 31, 2025, and over the coming months will be transitioning his responsibilities to members of the executive leadership team. Chair Tom Moran commented: 'On behalf of the board, I would like to extend our gratitude to Gerry for his exceptional contribution to the growth and development of Kerry across a long and distinguished career since joining in 1986, and we wish him the very best for the future." Kerry has said that its strong end market outperformance in the first half of the year demonstrates the strength of its strategic positioning within its markets, channels and across its customer base. Looking to the remainder of the year, while recognising a heightened level of market uncertainty, Kerry Group said it remains well positioned for volume growth and strong margin expansion. Kerry expects volume growth for the full year to be similar to the first half, with margin expansion in the second half ahead of expectations, and maintains its constant currency adjusted earnings per share guidance of 7% to 11% growth in the full year.
Irish Examiner
30-07-2025
- Business
- Irish Examiner
Revenues at Kerry up to €3.5bn despite cautious consumer behaviour and global uncertainty
Revenue edged 1.5% higher at Kerry Group to €3.5bn in the first half of 2025, the company said on Wednesday, despite cautious consumer behaviour amid geopolitical global uncertainty. After-tax profits rose to €303.1m for the period up from €291.5m in the equivalent period in 2024. 'The first half of the year reflected a good performance particularly given market conditions, where we delivered volume growth and strong margin expansion, driving constant currency EPS (earnings per share) growth of 9.8%," said chief executive Edmond Scanlon. "Volume growth was led by a strong performance in the Americas, with Europe in line with expectations, and growth in APMEA (Asia-Pacific, Middle East and Africa) reflective of variable market dynamics." The report noted the demand environment across food and beverage markets remained "soft" through the period, "reflective of cautious consumer behaviour, given the level of macroeconomic and geopolitical uncertainty across different geographies". European revenues stood at €731m. Performance in the region was driven by growth in the company's food service through seasonal and new launch activity with quick service restaurants, while performance in the retail channel reflected continued soft market dynamics. Within beverage, good growth was achieved in nutritional beverages with Kerry's integrated taste technologies and proactive health ingredients. Growth in Bakery was led by texture systems, with performance in meals reflecting softer overall market dynamics. Business developments in the period included strong progress in the development of the new Biotechnology Innovation Centre in Leipzig, Germany, enzyme capacity expansion in Cork, and the expansion of Kerry's cocoa taste capabilities in Grasse, France. Business volumes in emerging markets increased by 5.6% in the period, led by a strong performance in Southeast Asia and Latin America. "We continued to strategically develop our business, including expanding our capacity within APMEA and LATAM (Latin America), and further investing in our taste and bio-fermentation technology capabilities across the business," said Mr Scanlon. "Looking to the remainder of the year, while recognising a heightened level of market uncertainty, we remain well positioned for volume growth and strong margin expansion, as we continue to support our customers as an innovation and renovation partner.' The board declared an interim dividend of 42.0 cent per share, compared to the prior year interim dividend of 38.1 cent. Looking to the remainder of the year, the report said Kerry remains well positioned for volume growth despite "a heightened level of market uncertainty". Kerry expects volume growth for the full year to be similar to the first half, with margin expansion in the second half ahead of expectations, and maintains its constant currency adjusted earnings per share guidance of 7% to 11% growth in the full year. The board also noted the intention of Gerry Behan will retire from his position as an executive director at the end of December. "On behalf of the Board, I would like to extend our gratitude to Gerry for his exceptional contribution to the growth and development of Kerry across a long and distinguished career since joining in 1986, and we wish him the very best for the future," said chair Tom Moran.
Yahoo
28-07-2025
- Business
- Yahoo
Wipro secures smart meter data system contract with Saudi company
AI-powered technology services and consulting company Wipro has secured a multi-year contract with the Saudi Electric Company – National Grid SA. Its scope is to implement a smart meter data management (MDM) system for National Grid SA's transmission network, aimed at modernising the client's meter data platform, improving operational efficiencies and enhancing risk management. Wipro will design, develop, implement and provide support for the infrastructure and smart applications associated with the new MDM system. The system will facilitate continuous monitoring, improving grid stability by delivering real-time data on power flow, voltage levels and equipment status. Wipro Asia Pacific, India, Middle East and Africa (APMEA) CEO Vinay Firake stated: "We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape. 'With our deep domain expertise in the energy sector, smart solutions and advanced technological capabilities, we are proud to contribute to projects that are essential to the Kingdom's Vision 2030 and help the Kingdom realise its innovation and digitalisation ambitions." Wipro's efforts will enable National Grid SA to enhance its grid planning by utilising intelligent forecasting and reporting techniques. The intelligent integrations will enable proactive maintenance, expedite fault identification and provide visibility over energy usage patterns. This will enable National Grid SA to optimise its power dispatch, lower operational costs and reduce outages, resulting in an enhanced experience for the end user. Wipro has a comprehensive range of capabilities in consulting, design, engineering, and operations to assist clients in achieving their goals and establishing sustainable, future-ready businesses. The company has a workforce of more than 230,000, and business partners across 65 countries. The contract from National Grid SA follows the opening of the company's Middle East regional headquarters in Riyadh in June 2025. "Wipro secures smart meter data system contract with Saudi company" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
