Kerry Group CEO emphasized the company's enduring dedication to its agricultural legacy
Source: The DairyNews
Kerry Group CEO, Edmond Scanlon, reassured shareholders at the company’s Annual General Meeting (AGM) in Tralee, Co. Kerry on Thursday, May 2, emphasizing that the company remains firmly connected to its agricultural origins.
In response to inquiries regarding the company's agricultural heritage, Scanlon underscored Kerry Group's evolution over the past five decades from a modest dairy enterprise in north Kerry to a global powerhouse with €8 billion in revenue last year. Despite this growth, he emphasized the company's enduring commitment to its agricultural roots.
The CEO's remarks came on the heels of the company's report of a 9.9% decrease in revenue for the first quarter of 2024, attributable to subdued consumer demand.
Kerry Group's recent strategic moves include consolidating its dairy assets into a standalone entity named Dairy Ireland, comprising milk processing facilities across Listowel, Co. Kerry, and Newmarket and Charleville in Co. Cork. Scanlon addressed shareholder queries concerning the future of the dairy division, affirming the company's willingness to consider all avenues to maximize shareholder value, including potential divestments or acquisitions.
Responding to concerns about the fate of Dairy Ireland, Scanlon emphasized its significance within Kerry Group, highlighting its status as one of the premier dairy businesses globally. He underscored the company's ongoing investment in Dairy Ireland, citing its adherence to rigorous regulatory standards and its pivotal role in supplying high-quality dairy products worldwide.
Scanlon further reiterated Kerry Group's unwavering pride in its agricultural heritage, acknowledging the contributions of its founders and affirming the company's commitment to supporting farmers facing challenges such as poor weather conditions.
As Kerry Group prepares to inaugurate a €30 million investment development at the Cheestrings facility in Charleville, Co. Cork in June, Scanlon emphasized the company's enduring dedication to its agricultural legacy and its continued support for farmers through its Agribusiness team.
The CEO's remarks came on the heels of the company's report of a 9.9% decrease in revenue for the first quarter of 2024, attributable to subdued consumer demand.
Kerry Group's recent strategic moves include consolidating its dairy assets into a standalone entity named Dairy Ireland, comprising milk processing facilities across Listowel, Co. Kerry, and Newmarket and Charleville in Co. Cork. Scanlon addressed shareholder queries concerning the future of the dairy division, affirming the company's willingness to consider all avenues to maximize shareholder value, including potential divestments or acquisitions.
Responding to concerns about the fate of Dairy Ireland, Scanlon emphasized its significance within Kerry Group, highlighting its status as one of the premier dairy businesses globally. He underscored the company's ongoing investment in Dairy Ireland, citing its adherence to rigorous regulatory standards and its pivotal role in supplying high-quality dairy products worldwide.
Scanlon further reiterated Kerry Group's unwavering pride in its agricultural heritage, acknowledging the contributions of its founders and affirming the company's commitment to supporting farmers facing challenges such as poor weather conditions.
As Kerry Group prepares to inaugurate a €30 million investment development at the Cheestrings facility in Charleville, Co. Cork in June, Scanlon emphasized the company's enduring dedication to its agricultural legacy and its continued support for farmers through its Agribusiness team.
