Kerry Group has reported revenue of €3.3 billion in the first half of 2026, down 3.7% on the same period last year (almost €3.5 billion).

The taste and nutrition company recorded sales volume growth of 3.3% across its three regions in the first six months of the year.

This growth was led by by snacks, meat, dairy and beverage end markets.

Foodservice continued its "strong market outperformance" with volume growth of 4.8%, while business volumes in emerging markets increased by 5% in the period.

Revenue for the period also comprised an overall pricing reduction of 1.0% reflecting input cost deflation, adverse transaction currency of 0.1%, a reduction from disposals net of acquisitions of 1.1% and adverse translation currency of 4.8%.

The report noted the adverse translation currency impact was mainly due to the significant weakening of the US dollar versus the euro.

Kerry Group said that based on prevailing exchange rates "the foreign currency translation impact is expected to be favourable for the remainder of the year".

Kerry Group

Group earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to €558 million in the period, with EBITDA margin expansion of 60 basis points to 16.7%.

This was primarily driven by the company's efficiency programme, Accelerate 2.0, combined with benefits from operating leverage, product mix, net price, and disposals.

Profit after tax stood at €282.6 million, down from €303.1 million in the first half of 2025.

The board has announced an interim dividend of 46.2 cent per share, an increase of 10.0% over the 2025 interim dividend (42 cent).

In the first half of 2026, the group repurchased €173 million of Kerry Group plc ‘A’ ordinary shares under its share buyback programmes.

Kerry has maintained its constant currency adjusted earnings per share guidance of 6% to 10% growth in 2026.

"While recognising current market uncertainty, Kerry’s remains strongly positioned for volume growth and margin expansion, underpinned by a good innovation and renovation pipeline," the report said.

Updated targets

Kerry has also today (Wednesday, July 29) announced its medium-term financial targets to 2030.

The company is aiming for volume growth of 3-5%, "representing strong end market outperformance and based on a continuation of current market conditions".

Kerry is seeking an expansion of EBITDA margin of 20-21% by 2030.

The company said "business efficiency initiatives, operating leverage and portfolio mix will be key contributors to future growth, balanced with continued investment in the business for growth".

The targets also include high-single digit plus adjusted earnings per share (EPS) constant currency growth.

Edmond Scanlon, Kerry Group chief executive officer (CEO), said the company's "strong performance in the first half" reflected "a step up in volume growth in the second quarter and continued strong margin expansion".

He pointed to "strong growth and market outperformance" in the Americas, a "solid performance" in Europe and "good growth" in Asia-Pacific, Middle East, and Africa (APMEA).

In the Americas region, 3.7% volume growth brought H1 2026 revenue to almost €1.82 billion.

A 0.5% volume increase in Europe resulted in H1 2026 revenue of €687 million, while there was a 4.9% increase in APMEA to €831 million.

"Our continued strong end market outperformance highlights the strength and relevance of our strategic positioning across our markets, channels and customer base.

"Today, we have updated our financial targets and earnings growth algorithm to 2030.

"Our revenue volume growth target range of 3-5% represents our confidence in continuing to deliver consistent strong market outperformance and is set in the context of current market conditions.

"This growth combined with our EBITDA margin target of 20-21% by 2030 will be the key drivers of delivering our HSD+ earnings growth over the coming years," he said.