Saturday 22 October 2016

Glanbia teams up with Amazon to sell via internet giant's Dash device

Food sector company hopes link will drive online sales of lucrative bulk-up products, writes Gavin McLoughlin

Published 08/11/2015 | 02:30

Glanbia boss Siobhan Talbot
Glanbia boss Siobhan Talbot

Glanbia has teamed up with Amazon to sell its performance nutrition products via Amazon Dash - a wifi-connected device that orders goods via the press of a button.

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The company has been placing increasing emphasis on its performance nutrition business in recent years and insiders hope the products, which are mainly sold online, will have their reach extended via the Amazon partnership.

Chief executive Siobhan Talbot told analysts that the company had a "very strong" relationship with Amazon and that it was "particularly pleased" with some of the programmes that the internet giant is conducting.

Customers can progamme the Dash button to order a specific product and then press the button whenever they wish to order that product.

The Dash project also has a handheld wand that allows users to add items to their Amazon shopping carts by speaking into the device. It also allows products to be scanned and placed into the cart that way.

Glanbia's performance nutrition arm posted revenue growth of 3.8pc in the first nine months of the year, driven by acquistions, the company said earlier this week.

It said the growth in revenue from acquistions had been offest by price decreases and volume declines relating to lower contract manafacturing business and "specific challenges in certain markets", however.

The company said it expects earnings per share to increase by 9pc-11pc this year on a constant currency basis.

Davy Stockbrokers equity analyst Jack Gorman said the trading update was "solid" and left Glanbia "well placed to deliver on expectations for the full year".

Separately, Glanbia announced earlier this week that Bill Carroll had resigned as a director of Glanbia co-operative society, and therefore as a director of the Glanbia plc.

He had been embroiled in a Department of Agriculutre investigation of alleged milk quota irregularities, but was not prosecuted.

"My department has carried out an investigation into allegations that milk collections from a milk supplier were credited to another milk supplier and that this was being facilitated by the milk purchaser concerned," Agriculture Minister Simon Coveney told the Dail under privilege.

"Having received the report on the investigation, I instructed that a number of corrective actions be undertaken by all parties concerned, including the reallocation of milk to the original supplier and the payment of the superlevy fine by the supplier concerned.

"All such corrective actions were completed within the relevant milk quota year, and the end-of-year annual declaration for the milk producers concerned reflected the adjusted and correct position... my department recommended that a prosecution should not be pursued and I accepted this recommendation".

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