Glanbia’s first-half results for 2016 published
Glanbia PLC has published its H1 results for 2016 showing strong growth for the global nutrition and ingredients company
18 August 2016 | 0
Glanbia, the Irish performance nutrition group with business interests all over the world, has published its H1 results for 2016, showing earnings of €176.5m in the first half of the year.
“Glanbia’s strong performance in the first half of 2016 was driven by Glanbia Performance Nutrition,” commented the company’s group managing director Siobhan Talbot. “Total group earnings before [deductions] grew by more than 11%, while growth in our performance nutrition brands and value-added nutrition ingredients delivered on our vision to be a leading nutrition business.”
Weakness in the global dairy market, aswell as the ongoing uncertainty surrounding the UK Brexit referendum, continue to challenge the business according to Talbot, although the “diversity of the Glanbia portfolio has enabled us to navigate this.”
Looking forward, Glanbia predicts full-year growth of 8% to 10%. If the Euro-Dollar exchange rate remains at its current levels, the company expects its ajdusted earnings to remain with the current results.