Kilkenny world food leader Glanbia on course for between 7% and 10% growth in 2017

Sean Keane

Reporter:

Sean Keane

Email:

sean.keane@kilkennypeople.ie

Kilkenny world food leader Glanbia on course  for between  7% and 10% growth in 2017

Glanbia, the world leading, Kilkenny based global nutrition group is one course for an annual profit of between 7% and 10%.

"Glanbia Performance Nutrition was the main driver of revenue growth with Glanbia Nutritionals continuing to perform well,"  Siobhán Talbot, Group Managing Director said.

"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," she added.

In the first nine months of the year, 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. This was driven by 2.3% volume growth, 6.4% price improvement and a 5.0% contribution from acquisitions.