Glanbia's Dairy Ireland Division Posts 9% Growth In First Nine Months Of 2013
Published on Oct 29 2013 5:50 PM in Uncategorised
Revenue at Glanbia's Dairy Ireland division, which includes its consumer products brands Avonmore and Kilmeaden, grew 9% in the first nine months of the year, according to an interim management statement issued yesterday.
The division saw 7% volume growth and 4% price growth, offset by the divestment of the Yoplait Ireland franchise in the first half of 2012, which had a 2% negative impact on revenue growth.
However, it said that the outlook for its Consumer Products portfolio remains challenging, given the recent increases in milk input costs and growing consumer preference for own-brand.
"The performance of Consumer Products in the first nine months of the year was challenging," it said. "Milk input costs rose to historically high levels and the Irish retail environment continues to be difficult. In this context, Consumer Products recently announced a further phase of rationalisation to improve its competitiveness in the domestic market. This includes a reduction in the overall cost base through the redesign of its supply network and restructuring of head office functions."
Overall, total Group revenue, including Joint Ventures and Associates, grew 14% in the nine months to 5 October, compared to the same period in 2012.
Earlier this year, Glanbia announced that EBITA at its Dairy Ireland division fell 24.4% to €12.1 million, compared to the same period last year, noting that "promotional volumes continue to rise and private label products continue to gain market share at the expense of branded products."
© 2013 - Checkout Magazine by Stephen Wynne-Jones