Glanbia profits up 16% driven by strong demand for nutritional ingredients
Source - SMW
Nutrition group Glanbia said Wednesday saw profits rise 16% driven by strong demand for its brands and nutritional ingredients.
For the financial year ended 29 December 2018, profit before tax rose 16% to €266.8m from a year earlier and revenue rose 4.1% to €2,386.3m.
The uptick in growth for the year, was largely driven by strong volume growth across our business, in particular in the branded portfolio of Glanbia performance nutrition and the nutritional solutions component of Glanbia Nutritionals, the company said.
Glanbia performance nutrition revenues increased 9.5% from a year earlier. While the nutritional solutions segment of Glanbia Nutritionals saw revenue rise 3% of €526.7m.
'The outlook for 2019 is positive and Glanbia expects to deliver 5% to 8% growth in adjusted earnings per share, constant currency. If the Euro : US Dollar exchange rate remains at current levels, the reported 2019 result will be 3% higher than the constant currency outlook,' the company said.
At 10:06am: (LON:GLB) Glanbia PLC share price was +1.72p at 17.94p