The first half of 2010 yielded ‘excellent results’ for Glanbia, with the plc confident that the full year performance will provide further good news.
In its pre-closing trading statement, Glanbia cited the return to profitability in its Irish Dairy Ingredients division and a good performance by its Global Nutritionals division as key contributors to the upturn.
“In the second half of the year the positive trend continued, underpinned by stronger global dairy markets and solid demand across key nutritional sectors,” read the Glanbia statement.
“Since the announcement of the Interim Management Statement in November 2010, the Group has performed broadly in line with expectations and Glanbia expects to deliver circa 20 per cent growth in adjusted earnings per share for the full year. The full year impact of currency translation, relative to 2009, is largely neutral as expected.”