Glanbia has delivered its highest-ever annual earnings performance in 2022, said Siobhán Talbot, group managing director.
According to the company’s latest financial report, this was achieved despite unprecedented inflationary headwinds and led by the strong performance of the Optimum Nutrition brand, growing US consumption by 30.8% in 2022, and continued good delivery by its GN Nutritional Solutions business.
“This 2022 result underpinned the delivery of the group targets set out in 2018, for the period 2018 to 2022,” Talbot added.
“Looking forward, our strategic focus on ‘better nutrition’ growth platforms is clear, and we are confident that it will drive sustained growth in the coming years, delivering the targets set out at our recent capital markets event.”
Talbot noted that the group is aligning its portfolio to its strategy, completing the sale of the PLC’s stake in Glanbia Ireland and adding a new capability with the acquisition of Sterling Technology in 2022.
“In addition, today we are announcing that we have signed a non-binding memorandum of understanding for the sale of the PLC’s holding in the Glanbia Cheese joint ventures to our joint-venture partner, Leprino Foods,” she said.
“This continued evolution of our portfolio will enable Glanbia to focus on driving growth through our focused market-leading positions as a better-nutrition company, playing into strong underlying consumer health and wellness trends.”