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Glanbia Delivers ‘Strong’ Operating Performance In First Half

Glanbia has delivered a strong operating performance for the six-month period to the end of July.

In its half-year results, the company reported group revenues of €2.8 billion.

Commenting today, Siobhán Talbot, group managing director, said, “I am pleased to report that half-year 2022 results have exceeded our plans, demonstrating the impact of a series of actions implemented since the latter part of last year, in response to unprecedented inflation.

“Revenues grew strongly, with significant pricing initiatives and volume growth in all business segments in the period.”

Completion Of The Sale

The company completed the disposal of a 40% interest in Glanbia Ireland and acquired Sterling Technology, a US bioactive ingredient company, during the period.

“We continue to make progress on our strategic agenda, and with the completion of the sale of the company’s minority interest in Glanbia Ireland, Glanbia plc continues to evolve as a focused, purpose-led global nutrition company,” Talbot added.

“We will continue to monitor inflationary trends into the second half of the year, but are confident that further pricing action and operational efficiencies will deliver improving margins and strong year-on-year EBITA growth.”

The company also returned €127.1 million to shareholders in the period, via share buy-backs.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.

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