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Oct 26 2023, 07:10 IST/BST
Kerry Group
FY guidance revised, Q3 Taste & Nutrition in line, buyback launched
- Sectors : Foods
- Companies : Kerry Group
DAVY VIEW
While Taste & Nutrition (T&N) Q3 was in line with volume growth and with margin expansion in evidence, the Dairy Ireland (DI) division was impacted by challenging market conditions. Revised EPS guidance towards the lower end of the growth range (1.0-5.0% growth) reflects this dynamic. That said, we envisage no material change to our FY23 EPS forecast of 434.2c. The launch of a €300m share buyback reflects capital allocation flexibility aided by a strong balance sheet.
