Glanbia has grown revenues by 8.4%, constant currency, in the first quarter of 2019 underpinned by growth in both Glanbia Nutritionals and Glanbia Performance Nutrition in the period.
On a reported basis, reflecting the stronger US Dollar Euro foreign exchange rate, revenue increased 16.2% when compared to the same period in 2018, according to the groups Interim Management Statement for the three month period ended 30 March 2019.
The global nutrition group outlined in a statement issued today that the drivers of revenue increase on a constant currency basis were volume growth of 1.4%, acquisitions of 9.7% offset by a price decline of 2.7%.
“Glanbia Nutritionals was the main driver of revenue growth with a good performance in particular from the Nutritional Solutions business, Siobhán Talbot, group managing director said.
The drivers of revenue increase on a constant currency basis were volume growth of 1.4%, acquisitions of 9.7% offset by a price decline of 2.7%.
Talbot highlighted that Glanbia Performance Nutrition's revenue growth in the first quarter was driven by a strong performance from the recently acquired SlimFast brand.
"Our strategy remains on track and we reiterate our full year guidance of 5% to 8% growth in adjusted earnings per share, constant currency, in 2019, with growth to be delivered in the second half of the year.” She explained.
Board Changes
On 20 February 2019, Glanbia announced changes to the composition of its Board with Ms Mary Minnick and Mr Richard Laube to be appointed as independent Non-Executive Directors on 1 May 2019.
Today, Glanbia is announced that John Daly will be appointed to the Board as an independent Non-Executive Director effective 1 May 2019. Accordingly, Paul Haran will retire on the same day.
John Daly (aged 62) currently serves as Chairman of both Britvic plc, a leading soft drinks company and Vivo Energy plc, a downstream petroleum company.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.
