Glanbia announces a further €50m share buyback scheme as profits surge in 2021

The performance nutrition firm reported profits at the higher end of market forecasts but warned that inflation in dairy markets would pose a challenge this year

Siobhán Talbot, group managing director at Glanbia: ‘We anticipate the effects of Covid-19 will further abate, however the ongoing impact of cost inflation, especially dairy-related, will need to continue to be actively managed.’ Picture: Dylan Vaughan

Glanbia plc, the performance nutrition and ingredients company, has announced a new €50 million share buyback scheme will commence this year after it posted double-digit sales growth and healthy margin expansion for 2021.

Announcing full year this morning, Glanbia posted a 29 per cent increase in full year earnings (Ebita) to €271 million, as margins widened from 5. 5 per cent in 2020 to 6.4 per cent last year. Operating profits increased 39 per cent ...