Kerry Group upbeat about prospects in 2002


Food and ingredients company Kerry Group gave a positive outlook to shareholders and said it expects overall performance to be line with market expectations.

Speaking at Kerry Group's A.G.M. today Mr Hugh Friel, managing director, said the group had made a number of bolt-on acquisitions in ingredients and consumer foods markets.

Among the acquisitions are Industrial Deshidratadora, a convenience food processor in Mexico and US ingredient developer, Ringger Foods.

Kerry has also concluded the sale of the Bailieboro milk processing business for euro33 million and is progressing the sale of the Artigarvan milk processing business in Co Tyrone, which was also acquired in 2001 as part of the Golden Valetransaction.