Kerry Group reported 16.6% growth in its interim management statement on Thursday.

Inflation pressures continue to grow for the company, with group sales volumes rising 6.2% in the third quarter, while pricing accounted for 15.3% during the three months.

There is growing pressure on profitability, with group earnings before interest, taxes, depreciation and amortisation dropping by 0.4 percentage points.

The strong increase in volumes have been a positive, while exchange rates have also been a boon for Kerry, with the company saying "foreign currency is expected to be favourable 9% in 2022".

Chief Executive Officer Edmond Scanlon said: "While we recognise the current level of uncertainty in the marketplace, we feel very well positioned as we continue to support our customers in addressing the various market challenges and opportunities."

Shares in the company were trading trading more than 1% lower on Thursday morning in the wake of the announcement.