Business Irish

Saturday 3 December 2016

Glanbia revenue jumps 9.3pc to €2.8bn after more double-digit growth

Published 24/02/2016 | 07:32

Glanbia chief, Siobhan Talbot
Glanbia chief, Siobhan Talbot
Glanbia's Mark Garvey and Siobhan Talbot
Rob Kearney, Optimum Nutrition ambassador

Glanbia, a global performance nutrition and global ingredients group, has posted its sixth consecutive year of double-digit growth, which has led to revenues in the firm jumping 9.3pc.

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In the company's annual results for 2015 it posted revenue in its wholly-owned businesses of €2.77bn, up 9.3pc on the previous year.

Group earnings before interest, tax, and amortisation (EBITA) rose 10.5pc on the previous year, up to €271m.

Glanbia's crown jewel, its Global Performance Nutrition arm, continued to expand with EBITA growth of 28.3pc, up to €135.6m.

Rob Kearney, Optimum Nutrition ambassador
Rob Kearney, Optimum Nutrition ambassador

Falling milk prices hit Glanbia's Global Ingredients division. In the firm's results it described the EBITA for the division as 'resilient'.

Global Ingredients EBITA fell by 11.6pc, down to €106.6m.

Speaking about the results Glanbia chief executive, Siobhan Talbot expressed her delight at the firm's continued growth.

"The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets. Glanbia Performance Nutrition was the main driver of earnings growth supported by Dairy Ireland which saw a recovery in performance in 2015. The outlook for 2016 is positive and we are guiding 8pc to 10pc growth in adjusted earnings per share, constant currency," Ms Talbot said.

Glanbia's recommended dividend for the year grew by 10pc, up to 12.2c per share.

Ms Talbot said the firm is expecting further growth this year.

"Our unique portfolio of performance nutrition brands and nutritional ingredients are right at the heart of emerging growth opportunities. The outlook for 2016 is positive and we are guiding 8pc to 10pc growth in adjusted earnings per share, constant currency.”

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