Kerry Group has released preliminary statement of results for the year 2021, which ended on December 31.PerformanceGroup reported revenue in the year increased by 5.7% to €7.4 billion. This reflected strong volume growth of 8.0% against lower prior year comparatives and increased pricing of 1.2%, partially offset by the impact of adverse translation currency of 1.8% and business disposals net of acquisitions of 1.7%. Taste & Nutrition delivered strong volume growth across all regions and Consumer Foods achieved strong volume growth across the business.Group trading profit increased by 9.8% to €875.5 million. This represented trading profit margin expansion of 40bps which was driven by the recovery of operating leverage, portfolio mix and net contribution of acquisitions and disposals, partially offset by pricing, supply chain oncosts and KerryExcel investments.Constant currency adjusted earnings per share increased by 12.1% to 380.8 cent (2020: 9.4% decrease). Basic earnings per share increased to 430.6 cent (2020: 313.0 cent). The Board recommends a final dividend of 66.7 cent per share, an increase of 10.1% on the final 2020 dividend. Together with the interim dividend of 28.5 cent per share, this brings the total dividend for the year to 95.2 cent, an increase of 10.1% on 2020.Net capital expenditure amounted to €315 million (2020: €311 million) and research and development expenditure was €297 million (2020: €282 million) as the Group continued to invest in its strategic priorities of taste, nutrition and emerging markets. The Group achieved free cash flow of €566 million (2020: €412 million) representing cash conversion of 84% in the year.
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