Glanbia results demonstrate ”resilience”29 Feb 2016
Glanbia has announced its results for the year ended 2 January 2016. Adjusted EPS were up 10.6% on a constant currency basis. The company reported a strong result from Glanbia Performance Nutrition with EBITA of €135.6 million.
Glanbia has announced its results for the year ended 2 January 2016. Adjusted earnings per share were up 10.6% on a constant currency basis (up 29.4% reported). The company reported a strong result from Glanbia Performance Nutrition with EBITA of €135.6 million, a 28.3% increase at constant currency (up 52.0% reported); while Global Ingredients delivered what the company described as a resilient result in difficult dairy markets with EBITA of €106.6 million an 11.6 % decrease, constant currency (up 6.2% reported).“I am pleased to announce the sixth consecutive year of double digit growth for Glanbia in 2015 with a 10.6% increase in adjusted earnings per share, constant currency,” said Siobhán Talbot, Group Managing Director. “On a reported basis, earnings per share grew by 29.4% reflecting the translation effect of a strong US dollar. The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets. Glanbia Performance Nutrition was the main driver of earnings growth supported by Dairy Ireland which saw a recovery in performance in 2015. The outlook for 2016 is positive and we are guiding 8% to 10% growth in adjusted earnings per share, constant currency.”“Glanbia’s strategy is to respond to the global megatrends of nutrition as consumers focus on active, healthy lifestyles, seek protein and exert a powerful focus on where their food comes from. In responding to these trends, Glanbia takes pure and clean ingredients including milk, whey and grains and using our expertise, we produce high-quality nutritional ingredients and branded products for consumers worldwide. Our unique portfolio of performance nutrition brands and nutritional ingredients are right at the heart of emerging growth opportunities. The outlook for 2016 is positive and we are guiding 8% to 10% growth in adjusted earnings per share, constant currency.”
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