Glanbia reports an 18% drop in FY 2009 revenue

In a separate Stock Exchange announcement, Glanbia announced that it’s in discussions with Glanbia Co-​operative Society Limited, its 54.64% shareholder, in relation to the potential disposal of its Irish Dairy and Agri Businesses.

2009 full-​year results summary

• Solid financial results, in line with market expectations, in a very challenging trading environment.
• Strong result in Global Nutritionals, particularly Optimum Nutrition.
• Major cost saving initiatives throughout the group during the year, continuing in 2010 in Ireland.
• Increased contribution by higher margin businesses improves operating margin by 10 basis points to 6.1%.
• Strong operational performance achieved across the business.
• Adjusted earnings per share amounted to 30.68 cents, down 14.4%.
• Dividend increase by 5% to 6.84 cents per share.
• Significant capacity expansion programme in Southwest Cheese on track for successful delivery.

Source: Glanbia

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