Kerry Group (KYGA) share rose by over 4% today after announcing a rise on full year revenues and volumes and predicting further growth in 2016.

The group issued its preliminary annual results for 2015 this morning, detailing a revenue rise of 6.1% to €6.1bn and a rise in volumes of 3.8% year-on-year.

Kerry said this performance reflected “continued strong market development” in American markets, an improved performance in the EMEA region and “good growth” in Asia despite lower economic growth in some developing markets.

Sales revenue in the Americas region increased by 21.4% on a reported basis to €2.3bn, reflecting 4.1% volume growth and 1.9% lower pricing.

In the EMEA region sales were broadly flat at €1,5bn, with business volumes up by 0.9%. Lower raw material pricing, in particular dairy, meant overall net pricing reduced by 2.9%.

Kerry Foods “performed well”, the group said, benefiting from the improved economic conditions in the UK and Irish markets and growing consumer demand for snacking and convenience offerings.

However, while economic conditions continued to improve in most regional developed markets, Kerry said consumer demand remained weak with developing markets held back by slower economic growth, intensified geopolitical activity and significant currency movement.

Overall group Pricing declined by 2.2% against a background of approximately 4.5% lower raw material costs, but currency movements contributed a positive 6.9% translation impact to revenue.

Its Taste & Nutrition division achieved 4% growth in business volumes but pricing was 2.3% lower, while Kerry Foods’ business volumes grew by 3% and pricing reduced by 1.9%.

Efficiency programmes helped increase Kerry’s trading profit by 10% to €700m and group trading profit margin increased by 40 basis points to 11.5%.

Kerry Group chief executive Stan McCarthy commented: “In a record year of business development in 2015, the Group achieved a strong financial performance, delivering continued business margin expansion and 8.2% growth in adjusted earnings per share.

“Our industry-leading technologies are well positioned to meet today’s consumer and customer requirements.”

He said the group expects to achieve 6% to 10% growth in adjusted earnings per share in 2016 taking into account a 3% currency headwind at today’s exchange rates.

Analysts at Liberum commented: “Kerry as a high quality company with a unique, innovative and integrated ingredients and flavours (I&F) platform that enables the group to outpace global I&F market growth and take share of customer.”

The broker noted that, after a record €888m spend on M&A in 2015, Kerry expects to pursue further strategic opportunities in 2016 with a target of €200-500m.

Kerry Group shares were up 4.2% to €73.81 today in London on the strong revenue and profit growth and relatively bullish guidance.