Kerry Group has said that it expects financial results for the third quarter (Q3) of 2024 will be "in line with market expectations".

The global taste and nutrition company, headquartered in Tralee, Co. Kerry, is today (Tuesday, October 8) hosting an in-person US investor event in Beloit, Wisconsin.

Kerry said that the event will showcase the significant development of the company's science and technology portfolio, along with its "strong positioning in the Americas, emerging markets and the foodservice channel".

The company said these are expected to be "key contributors to future market outperformance and greater penetration growth".

Ahead of the investor event, Kerry issued a brief update on current trading stating that "the group expects results for Q3 2024 to be in line with market expectations".

The company added that no further details on current trading will be provided until October 24, when the Q3 2024 results are due to be published.

As part of the half year results for 2024 announced at the end of July, Kerry confirmed that it would be rolling out a further share buyback programme.

"This programme will be up to €300 million of Kerry Group plc ordinary shares and it is intended that it will commence post the completion of the current programme," the company said.

Kerry Group reported revenue of €3.9 billion in the first six months of 2024 (H1), which is down by 5.9% compared to the same period last year (€4.12 billion).

The company said that group revenue comprised volume growth of 1.7%, pricing deflation of 4%, unfavourable translation currency of 0.9% and the effect from disposals net of acquisitions of 2.7%.

However, group EBITA (operating profit before interest, tax, amortisation of goodwill and other intangibles and exceptional items) increased by 6.6% to €552 million (H1 2023: €518 million).

Profit after tax in the first half of the year was €291.5 million, compared to €357.9 million in H1 2023.