News

Glanbia upgrades full year earnings projection despite 9% revenue decline

By William Dodds

- Last updated on GMT

Hugh McGuire, chief executive of Glanbia Performance Nutrition, and group managing director Siobhán Talbot. Credit: Glanbia
Hugh McGuire, chief executive of Glanbia Performance Nutrition, and group managing director Siobhán Talbot. Credit: Glanbia

Related tags Finance

Irish nutrition firm Glanbia has upgraded its full year earnings projection from 17% to 20% growth in terms of adjusted earnings per share.

This projection is based on its earnings during the first nine months of 2023, where it maintained "continued momentum​", and a “strong outlook”​ for the final quarter of the year.

Meanwhile, in the nine months to 30 September 2023, revenue declined 9.1% in constant currency compared to the same period in 2022. The drivers of the revenue decline were a volume decline of 2.5% and a price decline of 5.9%, with growth in the Glanbia Performance Nutrition (GPN) division offset by a decline for Glanbia Nutritionals (GN).

GPN revenue increased by 2.7% for the period, fuelled an 8.9% price increase and volume decline of 6.2%. For GN, there was a 13.9% revenue decline for period, with volumes and prices declining by 1.1% and 11.9% respectively.

Glanbia also completed a €100m (£87.1m) share buyback programme and acquired the B2B bioactive ingredients business of PanTheryx for $46m (£40.1m).

Looking to its result for the whole of 2023, GPN expects revenue growth of 5% on a constant currency basis, while GN expects a “low double-digit” decline in revenue.

I am pleased to announce that Glanbia has continued to deliver good momentum during the third quarter which, together with a strong outlook for the remainder of the year, today results in an upgrade in expected growth in full year adjusted earnings per share to between 17% and 20% on a constant currency basis​,” said Siobhán Talbot, group managing director.

The Group’s portfolio of better nutrition brands and ingredients continues to resonate strongly with consumers seeking health and wellness, with a particular focus on protein. The Optimum Nutrition brand within GPN, delivered strong revenue growth in the period while in GN Nutritional Solutions, overall volume trends have stabilised with volume growth in the third quarter driven by protein solutions.​”

In other news, Cheshire-based manufacturer Roberts Bakery has announced plans to open a new site in Winsford and rebuild two of its existing sites​.

Related topics Operations

Related news

Show more

3 comments

RELIABLE RECOVERY TEAM

Posted by henry butler,

Lee Ultimate Hacker has access to a vast array of innovative technology and equipment in addition to wands and a few spells. They use every resource available to find lost or stolen Bitcoin, including advanced blockchain analysis tools and data recovery software. They stand out from the crowd because of their aptitude at navigating the intricate web of digital transactions and recognizing important evidence. Of course, behind every great wizard (or recovery team) is a team of skilled individuals. The experts at Lee Ultimate hacker possess a diverse range of skills, from cybersecurity and forensic analysis to cryptography and blockchain expertise. Their collective knowledge and unwavering dedication make them a force to be reckoned with in the realm of Bitcoin recovery. Just like my scenerio where I had sent $45,000 worth of bitcoin to an unauthorized broker. I was so mad and down because I knew not where to go and what to do. After hovering in demise of my money, I stumbled upon a post showering praise to Lee Ultimate hacker for a successful recovery of her lost fund and that was how my joy came. Lee Ultimate Hacker should be contacted via email:Leeultimatehacker@aol.com

Report abuse

Recovering Crytocurrencies

Posted by Stephanie Matthams,

Bitcoin recovery has raised a dilemma for many, since people believe it's very difficult whether it's recovered or not. But I can testify it's recovered, I lost my Bitcoin, but by good luck I met Alister recovery who helped me to recover. It only took them a few hours to get it back. They are very industrious and trustful. I give thanks to Alister recovery for their great job. CONTACT INFO: Mail: Alisterrecovery AT gmail DOT com

Report abuse

HOW TO HIRE A HACKER TO RECOVER STOLEN BITCOIN

Posted by raymondaderson@gmail.com,

In the ever-evolving world of cryptocurrencies, the loss or theft of digital assets can be devastating. The anonymous nature of transactions and the complexity of blockchain technology make it challenging to regain lost funds. However, I discovered a life-saving solution when computer specialist Recovery came to my rescue. This article aims to provide an in-depth account of how computer specialist Recovery successfully recovered my lost bitcoin, showcasing the invaluable expertise and professionalism exhibited by this renowned firm. computer specialist Recovery has state-of-the-art equipment and a staff of knowledgeable professionals who are familiar with blockchain technology. Their in-depth understanding of digital forensics and bitcoin transactions gave me the assurance that I was working with the proper group to get my money back. Thank you computer specialist recovery as they can be contacted via: email >Computerspeciallist@engineer.com Telegram > +393511972713

Report abuse

Follow us

Featured Jobs

View more

Webinars

PRODUCTS & SERVICES