Yesterday food group Glanbia revealed a strong overall performance for the year to date. Total revenue rose 14% in the first 9 months of 2013. The group expect to see a 10% rise in full-year adjusted earnings per share for this year in total.
The group predicts earnings per share growth of around10% for 2013.
The global performance nutrition and global ingredients divisions revealed annualised revenue growth of 19% and 14% in the last 9 month.
However, management said that milk input costs rose to record high levels and the Irish retail environment continues to be struggle.
Revenues rose at Glanbia's Global Performance Nutrition division by 19%, mainly due to volume growth. The division's growth continues to outperform market growth rates internationally.
"Across the group we have a range of strategic capital investments, cost initiatives and rationalisation programmes underway, which 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," said Glanbia's group managing director John Moloney told RTE yesterday.
