Source - SMW
Global nutrition group Glanbia has reiterated its full-year guidance after a good performance in the first nine months of the year.

The group said that in the period to the end of September wholly-owned revenue from continuing operations increased 6.6% on a reported and constant currency basis from a year ago.

  On a constant currency basis, this was driven by volume growth of 2.4%, pricing growth of 0.9% and a contribution from acquisitions of 3.3%. 

Total group revenue, including Glanbia's share of joint ventures and associates, increased 13.5% on a reported basis and 13.7% on a constant currency basis. 

It said this was driven by 2.3% volume growth, 6.4% price improvement and a 5.0% contribution from acquisitions.

Group managing director Siobhan Talbot  said: 'Glanbia delivered a good result in the first nine months of 2017 with wholly owned revenue from continuing operations growing 6.6% in the period. 

'Glanbia Performance Nutrition  was the main driver of revenue growth with Glanbia Nutritionals  continuing to perform well. 

'Our joint ventures delivered strong revenue growth as a result of improved dairy markets.  

'The outlook for the remainder of 2017 is positive and we reiterate our full year guidance of 7% to 10% growth in pro forma  adjusted earnings per share, constant currency, for the continuing group.'

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