Irish food ingredients multinational Kerry Group has reported a 6.3% increase in revenue for the first quarter of 2025 and said it was maintaining its full year constant currency earnings per share guidance growth of 7% to 11%.
In a trading update, Kerry Group said it saw good volume growth in the three month period given overall consumer market demand.
It said its Foodservice business continued its outperformance with volume growth of 4.7%, driven by new menu innovations, seasonal products, and solutions to reduce operational cost and complexity.
The company added that growth in the retail channel was supported by an increase in nutritional enhancement renovation activity with a range of customers.
Kerry said its growth in the first quarter was led by Beverage, Bakery and Snacks end markets, supported by strong growth in savoury taste and Tastesense salt and sugar reduction technologies, as well as integrated solutions incorporating its botanicals, natural extracts and enzymes.
It noted that business volumes in emerging markets increased by 6.4%, led by a strong performance in Southeast Asia.
Looking ahead, Kerry said that against the backdrop of "highly dynamic macroeconomic conditions" and the continually evolving tariff and global trade landscape, its extensive local footprint, global sourcing network and customer-centric business model positions it well to navigate through this period.
"While recognising a heightened level of market uncertainty, Kerry remains well positioned for good volume growth and strong margin expansion, as it supports its customers as an innovation and renovation partner. Kerry maintains its full year constant currency earnings per share guidance growth of 7% to 11%," it added.
Kerry's CEO Edmond Scanlon, said the company delivered a good overall performance in the first quarter, particularly given market conditions.
"We achieved good volume growth in the Americas and APMEA, with Europe similar to the prior year. Our strong EBITDA margin expansion was led by efficiencies delivered through Accelerate operational excellence," the CEO said.
"Against a backdrop of highly dynamic macroeconomic conditions, our extensive local footprint, our unique offering, and the strength of our business model positions us well to navigate through this period, supporting our customers as their innovation and renovation partner," he said.
"While recognising the heightened level of market uncertainty, we remain well positioned for good volume growth and strong margin expansion, and we maintain our full-year constant currency earnings guidance," he added.
