Sunday March 29, 2020

Glanbia reports ‘disappointing’ drop in underlying earnings

Performance nutrition division including SlimFast and Optimum Nutrition to be restructured, says chief executive

26th February, 2020
Siobhán Talbot, chief executive of Glanbia, said there was a “continued consumer shift towards health and wellness”. Picture: Naoise Culhane

Glanbia has reported a drop of almost 8 per cent in underlying earnings following significant challenges in its sports supplements and healthy snacks business.

Siobhán Talbot, the Kilkenny-based group’s chief executive, said the Glanbia Performance Nutrition (GPN) unit would be restructured after group-wide earnings before interest, tax and amortisation (ebitda) fell to €276.8 million last year.

“It was disappointing that earnings were impacted by challenges in the Glanbia Performance Nutrition segment, and...

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