IRELAND – Global nutrition group Glanbia has highlighted strong performances from Glanbia Performance Nutrition and Glanbia Nutritionals in its Interim Management Statement for the nine-month period, highlighting a 9% increase in revenues for Glanbia Performance Nutrition and a 4.6% revenue growth for Glanbia Nutritionals.
According to NutritionInsight, Glanbia Performance Nutrition delivered what is described by the company as a “satisfactory” performance in the first nine months of the year.
“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,” comments Siobhán Talbot, Group Managing Director at Glanbia.
“Glanbia Performance Nutrition was the main driver of revenue growth with Glanbia Nutritionals continuing to perform well.”
“Our Joint Ventures delivered strong revenue growth as a result of improved dairy markets,” Talbot adds.
“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.”
“Glanbia’s portfolio of branded performance nutrition products and ingredient solutions are addressing the growth opportunities arising from four major consumer mega-trends: health and wellness, life on the go, active lifestyles and clean labelling,” a Glanbia spokesperson told NutritionInsight.
“We are constantly developing innovative solutions to meet specific customer and consumer functional and nutritional needs,” the Glanbia spokesperson adds.
“Our ability to connect to these consumer mega-trends and deliver simple, healthy and exceptional products has allowed us to hold the number one position in a global market that is estimated to grow to US$20 billion by 2020.”
Innovation continues to be a driver of growth, Glanbia notes, with a range of products focused on convenience formats and plant based ingredients performing well across the branded portfolio.
The pipeline of new product launches will continue into the fourth quarter and will be broad based across channel, format and territory.
The full-year 2017 net debt to adjusted EBITDA ratio, as calculated per financing agreements, is expected to be approximately 1.0 times based on current business activity.