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Feb 16 2021, 07:10 GMT
Kerry Group
FY20 results in line; T&N returns to volume growth in Q4
- Sectors : Foods
- Companies : Kerry Group
DAVY VIEW
Kerry’s FY20 results bookend an unprecedented period for the group. Headline forecasts were in line with our forecasts, with the Taste & Nutrition (T&N) division returning to volume growth in Q4. For T&N, FY21 will be about margin rebuild and revenue recovery in the Foodservice channel. We anticipate a modest (2-3%) downward adjustment to our FY21 EPS forecasts – primarily FX related. The current crisis has placed a greater emphasis on supply chain responsiveness, toolkits and agility – as such, we expect Kerry to emerge with enhanced relevancy.
