Siobhán Talbot, Group Managing Director
Kilkenny based company Glanbia had a total revenue of over €2 billion for the first six months of this year up almost 10% on the same period in 2016 once currency changes are taken into account.
The global nutrition group announced its results for the first half of the year with the multi-national's good performance driven by Glanbia Nutritionals.
The total revenue for Glanbia plc was €2.047 billion with earnings before interest, taxation, deprecation, and amortization (EBITA) coming in at €198.2m up 9.2% on the previous half year.
Glanbia Nutritionals, which includes its value-add dairy ingredients business, was the main driver of the company’s performance, with revenue growth of 12.2% and EBITA growth of 11.6%.
The sale of 60% of Dairy Ireland and related assets completed on 2 July, 2017 and a new joint venture, “Glanbia Ireland”, was established which encompassed the businesses of Glanbia Ingredients Ireland DAC and Dairy Ireland.
Siobhán Talbot, Group Managing Director, said: “Glanbia delivered a good performance in the first six months of 2017 with wholly owned revenues from continuing operations growing 7.3%, constant currency, when compared to the same period in 2016.
“The sale of 60% of Dairy Ireland and related assets was completed on 2 July 2017 and this business together with Glanbia Ingredients Ireland have formed a new Joint Venture named Glanbia Ireland.
“Glanbia Nutritionals and Joint Ventures were the main drivers of growth in the first half and we believe second half earnings progression will also be driven by Glanbia Performance Nutrition where good organic growth is expected for the remainder of the year.”