KRYAY Kerry Group Plc (PK)

--Kerry is considering future of dairy-related businesses

--Profit and revenue fell for 2020 but the company expects full-year growth

--Kerry declared a final dividend of 60.6 European cents

By Sabela Ojea and Ian Walker

Kerry Group PLC said Tuesday that it has started a strategic review of its dairy-related businesses in Ireland and the U.K., as it reported a fall in pretax profit for 2020.

The Ireland-based food company --which houses Dairygold butter, Charleville cheese and Richmond sausages among its brands-- cautioned that there's no certainty the review will lead to any deal.

Kerry Group posted pretax profit of 635.3 million euros ($770.6 million) for 2020 compared with EUR645.9 million for the same period a year earlier. Revenue fell to EUR6.95 billion from EUR7.24 billion.

Shares at 1610 GMT were down EUR3.20, or 3%, at EUR104.60.

The company said that it expects the short term impact from the coronavirus to continue into the first quarter with flat-to-positive volume growth within the taste and nutrition business, but a strong recovery and good growth for the full year. Taste and nutrition is the company's biggest unit, generating over 80% of group revenue.

The company added that it will continue to pursue merger and acquisition opportunities aligned to its strategic growth priorities.

The board declared a final dividend of 60.6 European cents, bringing the total dividend for the year to 86.5 European cents, an increase of 10% on 2019.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix and Ian Walker at ian.walker@wsj.com.

(END) Dow Jones Newswires

February 16, 2021 11:37 ET (16:37 GMT)

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