Kerry Group shares hit record highs of just under €110/share this week after the company posted very strong half-year results and updated its profit outlook for 2019.

Kerry shares jumped 6% on Thursday after the company reported trading profits of €383m for the first six months of 2019, which was up 13% year on year.

Trading margins in the business widened slightly to a very strong 10.7%.

Double-digit growth

Kerry’s revenue for the period also saw double-digit growth, with half-year sales rising 11% year on year to just under €3.6bn.

Kerry narrowed its profit guidance and now expects to achieve full-year adjusted earnings per share (EPS) growth of 7% to 9%.

It had previously issued a wider guidance for adjusted EPS growth of 6% to 10%.

The company also announced it was increasing its half-year dividend pay-out by 12% to 23.5cent per share.

Other shares

Meanwhile, shares in Origin Enterprises have slipped to record lows and are now trading below €5/share.

Shares in Total Produce are down 4% this week and are currently trading around the €1.35 mark.

On oil markets, the price of Brent crude oil has fallen sharply in the last week and is trading below $58/barrel.