Glanbia’s performance ‘in line with expectations’ in first quarter
Print2 May 2024
Glanbia has recently announced that its group performance is in line with expectations in its first quarter of 2024, its financial results show.
According to the groups recently published management interim results, the group posted a 1.5% volume increase, which was offset by a price decline of -6.9%.
Better Nutrition
Commenting, Hugh McGuire, chief executive officer, Glanbia, said: “I am pleased to report that Glanbia delivered a good performance in the first quarter, which was driven by the continued strong global demand for our Better Nutrition brands and ingredients.
“Consistent with our strategy to acquire complementary businesses to grow our Better Nutrition platforms, we recently completed the acquisition of Flavor Producers.
“This acquisition significantly expands our flavours offering and brings new capabilities in the attractive and growing natural and organic flavours market, aligned with long term consumer trends.”
2024 Outlook
Based on the current market environment and expectations for the remainder of the year, the group reiterates its guidance and expects to deliver adjusted Earnings Per Share (EPS) growth of 5% to 8% constant currency in 2024.
McGuire note that this will be driven by a strong operating performance across both Glanbia Performance Nutrition (GPN) and Nutritional Solutions (NS).
Read More: Glanbia to acquire Flavor Producers for €281m
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