Glanbia maintain a ‘positive outlook’ for 2013 with 14pc sales growth
Total revenue at nutrition and ingredients firm Glanbia grew 14pc for the year to 5 October in comparison to last year’s figures.
According to an interim management statement from the Glanbia Group, this increase takes into account 9pc volume growth and 5pc price growth.
The company also said that the impact of acquisitions and disposals largely offset each other in the last twelve months.
Commenting on today’s report, John Moloney, Group Managing Director said that the firm had ‘performed well’ in the first nine months of 2013.
“Trading is in line with expectations and we expect this trend to continue for the remainder of the year. Momentum continues in our two core global businesses, particularly in Global Performance Nutrition where revenue growth continues to outperform market growth rates,” he said.
He said that Glanbia are currently implementing a range of strategic capital investments, cost initiatives and rationalisation programmes, that are helping ‘to enhance our future growth and expansion prospects.’
“We expect to deliver 2013 adjusted earnings per share growth of circa 10%, on a constant currency basis, which is at the upper end of previous guidance,” he added.
Earlier this month, new research showed that Irish food companies - including Glanbia - were not hurt by the horsemeat scandal.
In fact, three-fifths of all firms said that they stand to benefit from consumers' new-found focus on traceability.
The regulations reportedly had a positive effect on their business because they allowed the Irish businesses to differentiate themselves from international competitors.