Glanbia has reported ‘good performance’ in the first half of 2017 with Glanbia Nutritionals as the ‘main driver’.
The company posted that total revenue for Glanbia stood at €2.047 billion, up 11.5% from €1.837 billion in the same period last year.
Glanbia has hailed the growth in part of its sale of 60% of Dairy Ireland and related assets which was completed on 2 July 2017. The company has also stated that its growth comes off the back of its joint venture, Glanbia Ireland, which as FoodBev reported combined the businesses of Glanbia Ingredients Ireland and Dairy Ireland to create Glanbia Ireland.
Group managing director Siobhán Talbot said: “Glanbia delivered a good performance in the first six months of 2017 with wholly owned revenues from continuing operations growing 7.3%, constant currency, when compared to the same period in 2016.
“Glanbia Nutritionals and Joint Ventures were the main drivers of growth in the first half and we believe second half earnings progression will also be driven by Glanbia Performance Nutrition where good organic growth is expected for the remainder of the year.”
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