Glanbia reports 7th year of double digit growth
Glanbia has reported its seventh year of double digit growth, with operating profit of nearly €250m, up from €213m in 2015.
Its adjusted earnings per share are 87.66 cent, up 11.2pc on the previous year, while its EBITA is calculated at €305.1m. It operating profit is reported at €247m.
Its star performer, performance nutrition, had an EBITA of €162.6m, a 20pc increase on prior year, while its nutritional business had an EBITA of €111.8m, a 4.5pc increase on the previous year.
Glanbia has recommended a final dividend of 7.94 cent per share, an increase of 10pc on the prior year, which returns almost €40m to shareholders.
According to Group Managing Director Siobhan Talbot, it has been an exciting start to 2017 as Glanbia announced details of a planned strategic joint venture today.
“It has been an exciting start to 2017 with a number of key strategic initiatives progressing which will shape the future direction of the Group.
“Today Glanbia is announcing that it has signed a non-binding memorandum of understanding for the sale of 60pc of the Dairy Ireland segment to Glanbia Co-operative Society Limited.”
Glanbia also announced that its Performance Nutrition business had made two acquisitions to expand its reach.