Glanbia's Dairy Ireland business, which includes its Consumer Foods operation, saw its revenues grow by 4.1% in the first nine months of the year, according to an interim management statement issued this morning (4 November).
This was driven by volume growth of 3.5% and acquisitions of 1.0%. However, it was offset by a price decline of 0.4%.
In a statement, the maker of Avonmore and Kilmeaden said that its full year 2015 outlook is 'positive with revenue growth and margin recovery versus prior year expected as the business benefits from continued cost improvements accompanied by the growth in sales of value added branded milk in Ireland'.
Overall, Glanbia posted a 9% increase in reported revenues for the period.
"The outlook for the remainder of 2015 is positive," said Siobhán Talbot, Group Managing Director, "and we reiterate our full year guidance of adjusted earnings per share growth of 9% to 11% on a constant currency basis with a reported result of circa 25% if exchange rates remain at current levels for the rest of the year."
© 2015 - Checkout Magazine by Stephen Wynne-Jones