Glanbia announces new operating model in Q3 2024 update
Glanbia reports solid third-quarter momentum, driven by growth in its nutrition brands and ingredients portfolio
Print6 November 2024
Glanbia plc, the Better Nutrition company (“Glanbia” or the ‘Group’), is issuing this Interim Management Statement for the nine month period ended 5 October 2024 (“the period” or “YTD Q3 2024”).
Glanbia continued to deliver good momentum during the third quarter, driven by revenue growth across its portfolio of better nutrition brands and ingredients.
Volume growth was driven by Glanbia’s protein growth brands Optimum Nutrition and Isopure, as well as premix and protein solutions.
GN business separation
Today, Glanbia has announced the separation of its GN business into two new segments – Health & Nutrition and Dairy Nutrition.
“The new structure is designed to further streamline our business and sharpen our focus on our end use markets, and position ourselves for the next phase of growth,” said Hugh McGuire, chief executive officer, Glanbia.
As part of this change in Glanbia’s operating model, it is commencing a group wide transformation programme which will allow Glanbia to fund and drive growth in its business, supporting its ambition to maximise long-term value for shareholders.
Strong cash flows
Additionally, Glanbia has also announced an additional €50 million share buyback authorisation which reflects its strong cash flows and balance sheet position further increasing its returns to shareholders.
“Looking ahead to the remainder of 2024, we will continue to focus on delivering growth across our portfolio and we are reiterating our full year guidance of 5% to 8% growth in adjusted EPS,” noted McGuire.
Based on the current market environment and expectations for the remainder of the year, the Group reiterates its guidance and expects to deliver adjusted EPS growth of 5% to 8% in 2024.
Read more: Glanbia’s performance ‘in line with expectations’ in first quarter
Related Articles
Glanbia’s performance ‘in line with expectations’ in first quarter →
Fans 0
Followers