Latest news with #KerryGroup
BBC News
10 hours ago
- Business
- BBC News
Factory closure plan puts 130 jobs at risk in Tenbury Wells
A factory that employs 130 people in Worcestershire could be on the verge of closing down, according to the firm that owns it. Kerry Group, a global food and beverage company, has put forward a proposal to cease production at its site in Tenbury Wells. It comes after it announced it was consulting with 46 employees over plans to close a site at Birstwith, Yorkshire.A spokesperson said: "Kerry can confirm that it is engaged in a consultation process with employees on a proposal to cease production at its site in Tenbury Wells." They added: "This consultation period will last until mid-August, after which time a final determination will be communicated as appropriate."Our focus now is on supporting colleagues through this process and on continuing engagement with customers on next steps to support their ongoing business." Follow BBC Hereford & Worcester on BBC Sounds, Facebook, X and Instagram.
Irish Times
a day ago
- Business
- Irish Times
Euronext Dublin dragged down by food giant Kerry Group
Global markets were modestly higher on Wednesday while the US dollar advanced as investors digested the latest economic data and waited for the Federal Reserve's policy announcement. Dublin Euronext Dublin lagged international peers as it finished the day down 1.2 per cent, dragged into the red by food giant Kerry group. The company finished 6.7 per cent weaker after it reported that revenue rose by 1.3 per cent to €3.5 billion in the first half of 2025 despite what it described as a 'soft' demand environment linked to macroeconomic uncertainty. 'They opened very weak on the back of those results,' said a trader. 'They were down 10 or 11 per cent at one stage. All told, the market was obviously somewhat disappointed with the numbers. READ MORE 'I understand they cited China and the Middle East as having underperformed what they expected, so perhaps that was a factor. It did recover somewhat in the afternoon, but then gave up some of those gains again.' Elsewhere, no frills airline Ryanair finished the day down 1 per cent but still in a strong position on €25.60. Among the home builders, Glenveagh Properties and Cairn Homes were both undermined by negative moves in the UK homebuilding sector, finishing 1.2 per cent and 1.9 per cent in the red respectively. Ires Reit, the biggest landlord in the State, closed down 1.1 per cent. Among the financials, Bank of Ireland finished up 75 basis points after what one trader described as a 'somewhat disappointing day' on Tuesday, while AIB was up 36 basis points at close of business. London The FTSE 100 was flat as it struggled for direction, despite progress elsewhere, with investors digesting another earnings deluge and looking ahead to the US rate call and earnings from technology titans Meta and Microsoft. The FTSE 250 closed down 0.1 per cent, while the AIM All-Share closed down 0.4 per cent. GSK climbed 4.8 per cent as it forecast annual sales growth at the top end of its outlook range after 'another quarter of excellent performance' saw revenue and profit beat forecasts. HSBC slumped 5 per cent as it said pretax profit fell 27 per cent in the six months ended June 30th. Housebuilder Taylor Wimpey shed 6 per cent after revealing a multimillion pound increase in its cladding fire safety provision, a move RBC Capital Markets said caused several investors 'to choke on their cornflakes'. Europe On the Continent, the Cac-40 in Paris and the Dax 40 in Frankfurt each rose 0.2 per cent, while the pan-European Stoxx 600 index and the MSCI's gauge of stocks across the globe were both flat. L'Oreal rose 4 per cent after the French beauty-products company's sales expanded more than expected in North America and returned to growth in China. Autos led losses with Mercedes-Benz Group leading the decline after scaling back its business outlooks. In other earnings news, Adidas fell 12 per cent as the footwear giant reported weaker-than-expected revenue growth. French consumer goods company Danone rallied 7.4 per cent as its sales beat expectations with volumes rising in most of its categories. New York Wall Street traded within a tight range as investors assessed second-quarter GDP data and braced for the Federal Reserve's policy decision and earnings from technology behemoths. Hershey gained 2.3 per cent on results that topped forecasts. VF Corp, parent of Vans, jumped 9.3 per cent, while Kraft Heinz was largely steady after both companies beat quarterly revenue estimates, adding to the consumer-driven rally. The S&P 500 and the Nasdaq snapped their record run due to disappointing results from Dow components UnitedHealth and Merck. Investors are now placing their bets on results from megacaps to steer Wall Street to new highs. Microsoft and Meta Platforms report after the market closes, while Amazon and Apple will report on Thursday. – Additional reporting: Agencies
Irish Examiner
2 days ago
- 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.
BBC News
23-07-2025
- Business
- BBC News
Kerry factory closure plan puts nearly 50 jobs at risk near Harrogate
Nearly 50 jobs could be axed under plans to close a meat and fish ingredients factory near firm Kerry Group said it was consulting with 46 workers over its plans to close the site at a letter to Skipton and Ripon's Conservative MP Sir Julian Smith, the firm's Europe chief executive Thomas Hahlin Ahlinder said the proposals were "part of a strategic review of operations".Sir Julian said the proposals were "extremely disappointing" for staff at the Birstwith site and the wider community. In his letter, Mr Hahlin Ahlinder said a 45-day consultation with staff had said: "During this time, we will listen carefully and consider all feedback."Should the proposal proceed, we will work closely with local stakeholders to understand and address any concerns about this change."We are committed to ensuring these matters are handled with care and in the best interests of employees and the local community." 'Significant blow' The site produces ingredients such as breadcrumb and rusk products for the meat and fish trade, and also operates blending and packing lines for the food service industry."Kerry acknowledges the significant role the Birstwith site has played in the local community over many years," Mr Hahlin Ahlinder reply, Sir Julian said that the plans were "deeply concerning"."I stand ready to assist in any initiative that will protect jobs and support affected employees," he said."It is crucial that we explore all possible avenues to mitigate the impact of this decision on the local community."The site has played a significant role in the local economy for many years, and the potential loss of 46 jobs will be a significant blow to the area."I have written to Kerry Group to express my concern and support for any initiative that will protect jobs and support affected employees."Kerry Group has been contacted by the BBC for a further response. Listen to highlights from North Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
Malaysian Reserve
16-07-2025
- Business
- Malaysian Reserve
Beverage Solutions Brand DaVinci Gourmet Drives Sustainable Sourcing with Move to Rainforest Alliance Certified Cocoa
SINGAPORE, July 16, 2025 /PRNewswire/ — In a first among global food service beverage brands, DaVinci Gourmet, a brand under Kerry Group, has transitioned 100% of the cocoa used in its full range of sauces, syrups and powders to Rainforest Alliance Certified sources. To drive awareness and help cafés make the switch, DaVinci Gourmet is offering the first 200 food service operators to join its Conscious Chocolate Campaign sustainable chocolate kits that include ethically sourced products, café-ready point-of-sale materials, and a recipe book co-developed with leading beverage creators featuring Rainforest Alliance Certified cocoa. A new consumer study by Kerry reveals that 83% of consumers would choose a drink made with Rainforest Alliance Certified cocoa over one without certification. Consumers are also willing to pay 20% more for a chocolate drink made with sustainably sourced ingredients[1], sending a signal to the food service industry of the value of ethical sourcing. While Rainforest Alliance Certified cocoa is available in retail chocolate bars, many chocolate-based drinks served in cafes and restaurants do not carry sustainable cocoa certification. 'DaVinci Gourmet is proud to lead the change to sustainably sourced ingredients because sustainability should be the standard. What's more, while we use sustainable cocoa, we don't pass on any extra cost to our customers,' says Eloise Dubuisson, General Manager, Food Service Brands, Kerry Asia Pacific, Middle East & Africa. This recognition of the need for change is consistent with global trends: 78% of consumers say sustainability influences their purchase decisions[2]. With cocoa a core ingredient in café menus, the spotlight is now on what goes into food and beverages. World Cocoa Foundation and International Labour Organization reports continue to raise concerns over supply chain practices in some top-producing countries. Currently, Côte d'Ivoire and Ghana produce over 60% of the world's cocoa. 'Customers no longer just seek flavour. There is growing expectation for brands to act on the environmental and social impact of what they serve,' adds Dubuisson. 'Every decision to source more responsibly, even at the café level, creates ripple effects across the industry. We can make chocolate a force for good.' Rainforest Alliance Certified cocoa is sourced from farms that meet rigorous standards for environmental protection, responsible labour practices, and economic sustainability. Represented by the familiar green frog seal, the certification signals that the cocoa is grown more sustainably, thereby protecting forests, improving farmer livelihoods, and promoting more transparent supply chains. 'Every cup made with certified cocoa is a step toward more resilient farming communities and healthier ecosystems,' says Nina Rossiana, Markets and Partnerships at Rainforest Alliance. 'When food service brands commit to responsible sourcing, they're not just meeting consumer expectations but helping create real change.' 'We are not just switching our cocoa; we're inviting others in the industry to join us,' says Dubuisson. 'We want to empower cafés to serve drinks that don't just taste good but feel good to offer. Sustainability is not simply good ethics. It is good business.' [1] Kerry proprietary Research, 2024; online quantitative with1,000 consumers across 10 markets in APMEA [2] IBM Institute for Business Value. (2022). Sustainability as a Business Imperative
