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Healthcare

BRIEF-Kerry Group sees 30% coronavirus hit to China Q1 revenues

Feb 18 (Reuters) - Kerry Group PLC CEO Edmond Scanlon and CFO Marguerite Larkin, speaking to analysts on FY results conference call:

* KERRY GROUP CEO SAYS WE ARE ‘VERY WELL POSITIONED’ GOING INTO 2020; EXPECT 2020 PERFORMANCE MORE OR LESS IN LINE WITH 2019 PERFORMANCE

* KERRY GROUP CEO SAYS M&A STRAGEGY HAS NOT CHANGED; HAS CONFIDENCE, CAPABILITY TO DO ACQUISITIONS

* KERRY GROUP CEO SAYS REMAINS OPEN MINDED ABOUT M&A OPPORTUNITIES IRRESPECTIVE OF SCALE

* KERRY GROUP CFO SEES GOOD OPPORTUNITIES TO EXPAND 2020 MARGINS ‘SOMEWHERE ABOVE 20, IN THE REGION OF 30’ BEFORE CORONAVIRUS IMPACT

* KERRY GROUP CFO SAYS AT THIS POINT WE ARE CONSIDERING IMPACT OF 0.5% OF T&N REVENUES AS A RESULT OF CORONAVIRUS

* KERRY GROUP CEO SAYS TOO EARLY TO SAY IF THERE WILL BE A POST-CORONAVIRUS BOUNCE IN CHINA

* KERRY GROUP CEO SAYS FIVE CHINA PRODUCTION FACILITIES WORKING ON A SKELETON CREW

* KERRY GROUP CEO, ASKED IF 0.5% T&N REVENUE FALL DUE TO CORONAVIRUS WAS EQUIVALENT TO 30% FALL IN CHINA REVENUES, SAID ‘YOUR MATHS IS CORRECT’ Further company coverage: (Reporting By Conor Humphries)

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