Ireland-based dairy and ingredients firm Glanbia saw annual profits rise last year after success overseas offset falling earnings from the company’s domestic consumer business.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating profit jumped 35% to EUR115.8m (US$175.8m) for the year to 29 December, while revenue was up 19% to EUR2.2m.
Glanbia’s international operations gained momentum in 2007, up 30% to EUR1.4bn, thanks in part to a good performance from the company’s US ingredients division.
John Moloney, group managing director, said: “Glanbia had an excellent year in 2007. The driver was the strong performance of our largest division, food ingredients & nutritionals. This division delivered with good volumes, improvements in operational efficiency and solid growth in margins.”
Despite favourable international results, revenue for the group’s Irish consumer food operations was down 27% to EUR17.8m, as a result of higher milk costs.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
