In the first nine months of this year, ended 30 September 2017, Glanbia reports wholly owned revenue from continuing operations increased 6.6% on a reported and constant currency basis when compared to the same period in 2016.
Behind this strong performance for 2017 so far, the company cited volume growth of 2.4%, pricing growth of 0.9%, as well as a contribution from acquisitions of 3.3% that helped drive revenue growth.
Siobhán Talbot, Group Managing Director commented, "Glanbia delivered a good result in the first nine months of 2017 with wholly owned revenue from continuing operations growing 6.6% in the period. Glanbia Performance Nutrition was the main driver of revenue growth with Glanbia Nutritionals continuing to perform well."
She added that, "Our Joint Ventures delivered strong revenue growth as a result of improved dairy markets. The outlook for the remainder of 2017 is positive and we reiterate our full year guidance of 7% to 10% growth in pro forma adjusted earnings per share, constant currency, for the continuing Group."
Performance Nutrition
The company’s increasingly important ‘performance nutrition’ arm, Glanbia Performance Nutrition (GPN) reported revenue increase by 9% for the period too.
This was driven by a 2.7% increase in volume, as well as 7.4% growth from the acquisitions of Amazing Grass and Body & Fit. However, this was also offset by a 1.1% price decrease.
Glanbia said in a statement that good performance in the US, EMEA and LAAPAC market helped drive sales and revenue for GPN, noting too that the reported price decrease was primarily a function of brand investment and innovation support in the US.
Nutritionals
Meanwhile, Glanbia Nutritionals (GN) delivered revenue growth of 4.6% for the first nine months of 2017. This was driven by a price increase of 2.5% – primarily the result of improved dairy markets, versus prior year – and volume growth of 2.1%, driven by Nutritional Solutions.
However, Glanbia acknowledged that US Cheese performance was slightly challenged in the period, with supply has outpacing demand for certain formats.
© 2017 - Checkout Magazine by Jenny Whelan
