Glanbia revenues get boost from volume growth, acquisitions in Q1
Source - SMW
Nutrition group Glanbia said revenues increased 8.4% in the first quarter of the year as higher volume and acquisitions boosted growth.
For the three to March 31, revenues rose 8.4% on a constant currency baisis, but increased 16.2% on a reported revenue, which takes into account the stronger US Dollar Euro increased.
The drivers of revenue increase on a constant currency basis were volume growth of 1.4%, acquisitions of 9.7% offset by a price decline of 2.7%, the company said.
Glanbia reiterated its guidance that adjusted earnings per share was expected to grow between 5% and 8% constant currency for full year 2019.
'If the average Euro US Dollar foreign exchange rate for the full year remains at similar levels to the average rate for the first quarter of 2019 Glanbia expects the full year 2019 reported result to be 3% higher than the constant currency outlook,' the company said.
At 10:06am: (LON:GLB) Glanbia PLC share price was -1.03p at 16.47p