Glanbia stockpiling materials in UK as it prepares for hard Brexit
Glanbia has contingency plans to deal with a hard Brexit next month, but said that the impact of such an exit on the group would be marginal.
The group generates about 3pc of its revenue in the UK, and also manufactures products there that are exported to mainland Europe.
"We're making sure as we work with our customers that we have some inventories in the right place so we can work through, depending on how a transition would occur," said chief financial officer Mark Garvey.
Speaking to the Irish Independent, Glanbia CEO Siobhan Talbot confirmed that the group had been positioning its UK activities to deal with a possible hard Brexit.
"We have a team that is effectively taking a co-ordinated approach across the entire group, mindful obviously of the facility that we have in the UK for performance nutrition," she said.
"We have two Glanbia cheese plants in the UK and clearly, as we all know well, it's an important route to market for Irish dairy, not least Irish cheese.
"The big issue for us, like any corporate, is the level and the protracted nature of the uncertainty," she said. "That's what makes the planning most difficult - will it be an orderly transition, or a disorderly Brexit, and neither do we know what tariffs might look like post either event.
"We are ensuring as best we can that we have raw materials in the right place, that we have finished product in the right place. That involves warehousing, we've had discussions with our customers on supply chain issues and constraints they might have."