MAJOR IRISH FOOD firm Kerry Group has reported a significant increase in profits in its latest investor report.
The Tralee-headquartered company, which produces well-known brands including Denny, Low Low, Galtee, Charleville and Cheestrings, said its trading profit increased by 12.6 per cent to €241million in the first six months of 2012.
The increase was primarily driven by its global business in ingredients and flavours, which helped increase overall sales revenue by 10 per cent to €2.9billion.
The company was more subdued on its consumer groceries division, saying only that margins in that area have been maintained.
According to Reuters, just 10 per cent of Kerry Group’s revenue is made in Ireland despite its stable of high-profile brands.
Kerry employs more than 24,000 people in Europe, North and South America, Australia, New Zealand and Asia.