For the 12 months to 31 December 2023, group volumes declined by 0.9% and group costs had been lowered by 0.7%.

Volumes throughout the Style & Vitamin division elevated by 1.1%, this was offset by a 6.5% quantity decline for the Dairy Eire enterprise unit.

In the meantime, group EBITDA for 12 months was €1.2m (£1m), which was additionally down in contrast with 2022.

The group stated the demand panorama all through 2023 was characterised by market dynamics together with buyer destocking, shrinkflation and the affect of inflation on client spending habits.

Commenting on the outcomes, Kerry chief government Edmond Scanlon stated that given the market dynamics at play all year long, the group delivered a “stable efficiency​”.

Scanlon continued: “Total Style & Vitamin quantity development represented an outperformance of our markets. APMEA and Europe achieved good quantity development led by a robust efficiency within the foodservice channel, whereas volumes in North America had been impacted by stocking dynamics and softer market situations. Dairy Eire efficiency mirrored difficult market situations throughout the 12 months. We had been happy with our good progress in increasing our EBITDA margin and reporting sturdy free money stream technology.”​

Wanting on the group’s funding report, Scanlon stated it had seemed to develop the enterprise consistent with its “strategic priorities​”.

“This included the enlargement of our style capabilities and footprint throughout our areas, additional growth of our diet portfolio, and broadening our rising markets presence​,” he added.

“This progress builds on our vital current strategic portfolio developments and geographical enlargement, strongly positioning Kerry for market outperformance and good margin development within the coming years. As we start 2024, Kerry’s innovation pipeline is powerful, although total client market volumes stay comparatively muted, which is mirrored in our steering for the 12 months of 5% to eight% adjusted earnings per share development in fixed forex.”​

In different information, plant-based meals producer MYCO is planning to launch its first vary of merchandise on the finish of March 2024 after securing £1.5m in funding.​​