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Performance Nutrition boosts Glanbia

19 Aug 2016

Glanbia has announced its results for the six months ended 2 July 2016. Adjusted earnings per share were 44.87 cents, up 10.8% on the prior half year, while EBITA from wholly owned business was €157.4 million, up 13.7% on the prior half year.

Performance Nutrition boosts Glanbia

Glanbia has announced its results for the six months ended 2 July 2016. Adjusted earnings per share were 44.87 cents, up 10.8% on the prior half year, while EBITA from wholly owned business was €157.4 million, up 13.7% on the prior half year. Glanbia Performance Nutrition reported a strong result with EBITA of €81.7 million, a 35.0% increase on the year-ago period. Glanbia Nutritionals delivered what the company described as a “satisfactory” result with EBITA of €58.0 million, a 4.0% decrease on prior half year.

“Glanbia delivered a strong performance in the first six months of 2016 driven by Glanbia Performance Nutrition,” said Siobhán Talbot, Group Managing Director. “Total group earnings before interest, tax and amortisation for the half year grew by over 11%. Sales of performance nutrition brands and value-added nutritional ingredients showed good growth in the first half of 2016 delivering on our vision to be a leading nutrition business. Global dairy markets remain weak and continue to be a challenge for parts of the business; however, the diversity of the Glanbia portfolio has enabled us to navigate this and we reiterate guidance for the full year of adjusted earnings per share growth of 8% to 10% on a constant currency basis.”