Business Person of the Month December 2021: Edmond Scanlon, chief executive of Kerry Group, oversees continued growth and development

Pictured: Edmond Scanlon, chief executive of Kerry Group

Edmond Scanlon, chief executive of Kerry Group, purchased over €1.1 million in shares in the nutrition company at the stock market in December

Edmond Scanlon, chief executive of Kerry Group, purchased over €1.1 million in shares in the nutrition company at the stock market in December, taking advantage of a 15 per cent drop in its share price from a record high reached in July.

Mr Scanlon was appointed chief executive four years ago, and this marks Mr Scanlon’s first direct purchase of shares in the company. The 10,000 shares  were acquired at €110.925 each on 9th December, 2021, according to a stock exchange filing.

Earlier this year, Mr Scanlon acquired 8,500 shares in the company at a strike price of 12.5 cent each.

In October, the group reported revenue increased by 6.3% in the period leading to the end of September, reflecting a volume increase of 8.2 per cent, increased pricing of 0.7 per cent, an adverse translation currency impact of 3.6 per cent, and net contribution from acquisitions and disposals of 1.0 per cent.

We are pleased with overall performance through the period reflecting continued good growth in our retail channel and strong performance in foodservice

Group trading profit margin increased by 60bps, reflecting a 60bps improvement in Taste & Nutrition and a 20bps improvement in Consumer Foods, driven principally by operating leverage.

“We are pleased with overall performance through the period reflecting continued good growth in our retail channel and strong performance in foodservice,” Mr Scanlon said at the time.

He continued: “The Americas had good overall volume growth, Europe delivered an excellent performance, while growth in APMEA remained strong with varying conditions across the region. A number of our end use markets had strong performances, with Beverage in particular achieving excellent growth.

“We have made some significant strategic developments through the year. We further enhanced our position as a market-leading taste & nutrition company, completing the acquisition of Niacet and the sale of our Consumer Foods’ Meats and Meals business.

“At our recent Capital Markets Day, we shared our refreshed strategic priorities, key growth platforms and mid-term targets, all key enablers of achieving our vision – to be our customers’ most valued partner, creating a world of sustainable nutrition. Our outlook for the full year is unchanged and we expect to deliver strong volume and earnings growth.”