A dramatic slump in Glanbia's share price has seen the valuation of the company fall by almost €3 billion in the last year to €2.4 billion.
Yesterday, Glanbia shares traded as low as €7.95. on the back of the impact of Covid-19 and the poor performance of its performance nutrition division in recent months.
The valuation of the company has fallen by 53pc since March of last year, when shares peaked at over €18.
The slump has had a knock-on impact in the value of Glanbia Co-op's 31pc shareholding in the PLC, which has declined by over €920m in the last year. The co-op's shareholding stands at just over €750m, down from its estimated €2bn shareholding back in 2017 prior to the co-op's spin out of 5.9m plc shares.
Glanbia cut its earnings guidance for 2019 in July after performance nutrition sales volumes were weaker than expected due to currency and tariff headwinds in major non-US markets. A shift to online sales in Europe also had an impact. It has outlined steps to simplify and improve the performance of its division that sells products aimed at athletes and body builders.