Kerry Group Earnings: Good Margin Progression, but Dairy Performance Weighs on Group

Kerry Group reported third-quarter results, with volumes up 0.1% and a negative pricing contribution reflecting a deflationary environment. For the nine months, pricing and volumes were up 1.3% and 0.4%, respectively, driven by good performance in taste and nutrition (1.5% volume growth and 3% pricing) and a decline in volumes in the dairy business (volumes down 6.2% and pricing down 6.5% as a result of reduced dairy prices and soft market supply dynamics).