Glanbia has revised adjusted its full-year earnings per share guidance upwards

Glanbia has revised adjusted its full-year earnings per share guidance upwards

Irish food group Glanbia said today (25 August) that it is confident of achieving strong revenue and profit growth for the full-year.

In its half-yearly results, the company booked a 58.8% increase in profits to reach EUR48.6m (US$61.6m) after tax.

For the six months ended 3 July, operating profit amounted to EUR66.3m, a 38.7% increase on the prior year.

Sales climbed 9.7% to EUR1.04bn.

John Moloney, group managing director, said: "Glanbia delivered an excellent first half performance driven mainly by a return to profitability in Irish dairy ingredients and a good performance by global nutritionals.”

While the global economic environment remains uncertain, Glanbia said it is taking current trading conditions into account and is confident the group will achieve strong revenue, operating profit and margin growth for the full year.

As a result the firm has revised adjusted earnings per share guidance upwards and is now expecting around 20% adjusted earnings per share growth for the full year.