Davy Research

Kerry Group

Asia – an introduction to Kerry’s leading emerging markets platform
Foods
Kerry Group

DAVY VIEW

When Kerry unveils its new five-year targets on October 11th under incoming CEO Edmond Scanlon, we expect the Asia Pacific (ASPAC) division to be an area of focus. Asia (within ASPAC) is Kerry’s leading emerging markets platform and the region with the greatest potential for organic growth. We forecast ASPAC will account for 20% of Taste & Nutrition (T&N) revenue by 2021, up from 16% currently. Catalysts include favourable socioeconomic trends and a growing demand for food service, supported by Kerry’s application capabilities in Asia. We reiterate our ‘Outperform’ rating given Kerry’s growth potential, the relevancy of its T&N capabilities and a strengthening balance sheet.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Kerry Group

    Closing Price: 7545c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

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