Companies

Glanbia revenues shrink amid global decline in dairy prices

Nutrition giant reiterated full-year guidance of 5 to 8 per cent growth in earnings per share

Hugh McGuire, Glanbia’s chief executive at their AGM in Kilkenny, said it was a good performance for the company, driven by “strong global demand” for their “Better Nutrition” brands. Picture: Patrick Browne

Glanbia has reported a 5.5 per cent dip in revenue in its quarter one interim statement, largely related to a global decline in the dairy market.

The group said that despite the decline in revenue, volume growth sat at 1.5 per cent for the quarter, while Glanbia Performance Nutrition (GPN) grew by 1.4 per cent in volumes.

Glanbia reiterated that full year earnings-per-share should be in the region of 5 to 8 per cent, as it made progress on its “strategic agenda” with the acquisition of US-based Flavor Producers last month.