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Glanbia Reports Revenue Growth Of 6.6% Over Nine Months

By Publications Checkout
Glanbia Reports Revenue Growth Of 6.6% Over Nine Months

In the first nine months of this year, ended 30 September 2017, Glanbia reports wholly owned revenue from continuing operations increased 6.6% on a reported and constant currency basis when compared to the same period in 2016.

Behind this strong performance for 2017 so far, the company cited volume growth of 2.4%, pricing growth of 0.9%, as well as a contribution from acquisitions of 3.3% that helped drive revenue growth.

Siobhán Talbot, Group Managing Director commented, "Glanbia delivered a good result in the first nine months of 2017 with wholly owned revenue from continuing operations growing 6.6% in the period. Glanbia Performance Nutrition was the main driver of revenue growth with Glanbia Nutritionals continuing to perform well."

She added that, "Our Joint Ventures delivered strong revenue growth as a result of improved dairy markets.  The outlook for the remainder of 2017 is positive and we reiterate our full year guidance of 7% to 10% growth in pro forma adjusted earnings per share, constant currency, for the continuing Group."

Performance Nutrition

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The company’s increasingly important ‘performance nutrition’ arm, Glanbia Performance Nutrition (GPN) reported revenue increase by 9% for the period too.

This was driven by a 2.7% increase in volume, as well as 7.4% growth from the acquisitions of Amazing Grass and Body & Fit. However, this was also offset by a 1.1% price decrease.

Glanbia said in a statement that good performance in the US, EMEA and LAAPAC market helped drive sales and revenue for GPN, noting too that the reported price decrease was primarily a function of brand investment and innovation support in the US.

Nutritionals

Meanwhile, Glanbia Nutritionals (GN) delivered revenue growth of 4.6% for the first nine months of 2017. This was driven by a price increase of 2.5% – primarily the result of improved dairy markets, versus prior year – and volume growth of 2.1%, driven by Nutritional Solutions.

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However, Glanbia acknowledged that US Cheese performance was slightly challenged in the period, with supply has outpacing demand for certain formats.

© 2017 - Checkout Magazine by Jenny Whelan

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