Despite a relatively positive outlook for the dairy industry there is of course an inevitable effect caused by the reduction in foodservice demand. Kerry Group are reviewing their UK & Ireland dairy business after an 11.7% drop in profits in 2020 and this has been attributed to a reduction in sales because of covid.
Kerry Group’s mighty global ingredients business continues to grow and prosper throughout the global market but it has been reported CEO Edmund Scanlon is reviewing the future of the UK & Ireland business. However, there is light at the end of the tunnel with the rollout of vaccinations and the UK launching their roadmap back to normality with a date of June 21st the target for the elimination of all legal restrictions. The outlook isn’t as positive so far for EU countries as their vaccination programmes are slower than the UK but there will be intense pressure on governments to ease the pressure on businesses which have been starved of revenue for over a year.