By Christian Moess Laursen

Kerry Group PLC said Thursday that revenue rose in the first quarter of 2023, and backed its full-year guidance.

The Ireland-based food company said revenue increased 10% in the quarter, driven by good volume growth in Asia-Pacific, Middle East and Africa and Europe and strong growth in the foodservice channel.

Earnings before interest, taxes, depreciation and amortization declined 7% due to input cost inflation.

The company backed its full-year guidance. Kerry Group previously said it expects to achieve adjusted earnings per share growth in 2023 of 3% to 7% on a constant currency basis.

"While recognizing the current market uncertainty, we believe we remain strongly positioned for growth and we reiterate our full-year constant currency earnings guidance," Chief Executive Edmond Scanlon said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

April 27, 2023 03:37 ET (07:37 GMT)

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