Voices
As the food technology group recovers from Covid-19, its chief executive Edmond Scanlon answered a series of questions on the way it picks, conducts and reports acquisitions. The future of its dairy and consumer foods businesses is far less clear.
Predictably, Kerry Group has delivered another strong set of results. On Tuesday, the company posted full-year figures for 2020 showing a 4 per cent drop in revenue and 12 per cent fall in various metrics of profitability. This was mostly as a result of Covid-19, with a small reduction in volume causing a big hit to profit in the scale-driven global food industry, while stockpiling against disorganised supply chains and expenditure on items such as PPE increased costs. In fact, the most worrying aspect of the presentation was the impact of foreign exchange rates as the weakening US dollar shaved…
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