Kerry has seen a good start to its year with volumes increasing 2.5% across the business, slightly ahead of the Q4 2014 level of growth. The ingredients and flavours division saw volume growth of 2.9%, while consumer foods division was up 1.4%. Group trading margin was up 40 basis points, with consumer foods up 20 basis points.

Net pricing was 2.4% lower, reflecting reduced raw material costs. Revenues increased by 4.5% compared to the same period last year and was mainly driven by volume. There was a 6.9% positive translation impact due to significant currency tailwinds and a 2.5% impact due to a business disposal.

The group achieved an improved performance in the EMEA region, where volumes increased by 0.6% compared to the same period of 2014.

American markets maintained positive momentum despite inflationary pressures in Brazil and overall the Americas Region delivered 2.9% volume growth.

Whilst strong business growth continued in Asia, overall growth slowed slightly due primarily to high inventory levels in China.

The consumer foods business saw volumes increase 1.4% in the first quarter compared to the same period last year, while pricing decreased by 2.6%. The improved business mix and trading performance contributed to the division’s 20 basis points increase in trading margin.

In January, Kerry Foods’ Direct-to-Store business in the UK was disposed. The group reiterated earnings guidance for the full year.