Glanbia expecting strong first half result
Food group Glanbia has said it is performing well in the year to date and is expecting to deliver a strong first half result.
In its interim management statement the company said the positive underlying trends in global dairy and nutritionals sectors experienced in 2010 have continued into 2011.
The group said its dairy Ireland division is expected to be ahead in the first half of 2011 compared to the same period last year.
It added that the trading environment for consumer products remains difficult and input cost pressures remain high. As a result it said this business is focusing on continued rationalisation of its cost base and achieving selected price increases at wholesale level.
The group said its agri-business is seeing a solid first half while there has been some weakening in market outlook in recent weeks.
The US cheese and global nutritionals division is also expected to be ahead in the first half of 2011 it said.