Strong Third Quarter Results Delivered By Glanbia
Published on Nov 2 2016 10:38 AM
Glanbia delivered a good performance in the first nine months of 2016.
Glanbia plc, the global nutrition group showed that in the nine months to 1 October 2016, wholly owned revenue increased 2.0% on a reported basis and was up 2.4% on a constant currency basis when compared to the same period in 2015.
Commenting today, Siobhán Talbot, Group Managing Director said: “Glanbia delivered a good performance in the first nine months of 2016. On a constant currency basis wholly owned revenues grew by 2.4% versus the same period in 2015. All segments of the Group delivered volume growth in the period as we continue to invest in developing our portfolio of brands and value-added ingredients to benefit from the long term consumer trends in nutrition. The outlook for the remainder of 2016 is positive and we reiterate our full year guidance of adjusted earnings per share growth of 8% to 10% on a constant currency basis.”
On a constant currency basis this was driven by volume growth of 3.9% and a contribution from acquisitions of 3.6%, offset by price declines of 5.1% primarily associated with reduced dairy market prices and brand investment.
Total Group Revenue, including Joint Ventures and Associates, declined 0.4% on a reported basis and grew 0.2% on a constant currency basis.
Sales at its Glanbia Performance Nutrition (GPN) division increased by 10.9% and this was mainly driven by strong volume growth across all of its regions.
The outlook looks very positive for the Irish nutritional group for the remainder of the year. They expect to deliver adjusted earnings per share growth of 8% to 10% on a constant currency basis by the end of 2016.
© 2016 - Checkout Magazine by Donna Ahern