UPDATE 1-Ireland's Kerry says sales up, reiterates guidance

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DUBLIN, May 13 (Reuters) - Irish food company Kerry Group Plc (KYGa.I: Quote, Profile, Research, Stock Buzz)reported a 7.5 percent rise in sales in the year to date and repeated its forecast for earnings this year of 151 to 155 euro cents per share.

Chief Executive Stan McCarthy said on Tuesday the group's ingredients and flavours and its consumer food divisions were performing well, with revenue up 7.5 percent on a like-for-like basis so far this year.

Kerry, whose brands include Wall's sausages, Homepride flour and Cheesestrings snacks, in February posted 2007 adjusted earnings of 143.8 cents per share.

"The group's consolidated balance sheet remains strong and net debt is in line with expectations which will facilitate the continued organic and acquisitive growth of Kerry businesses," McCarthy told shareholders at the company's annual meeting.

The acquisition of Dairygold spreads maker Breeo Foods for 165 million euros ($255 million), announced in March, was not expected to have a material impact on earnings per share in the current year, McCarthy said.

Kerry said in February it had passed on much of the surge in input costs, which included higher food prices, to customers and expected to make more acquisitions as the global credit crunch had made them less costly.

Shares in Kerry traded 3.1 percent higher by 1349 GMT at 20 euros, outperforming the Irish market .ISEQ, which was down 0.7 percent. (Reporting by Andras Gergely; Editing by David Holmes)