Irish food company Glanbia is now focussed on core areas for development in consumer foods, food ingredients and the evolving nutritionals business, group managing director John Moloney told shareholders at its AGM today (Tuesday).

In a statement to the financial markets, Moloney said that as anticipated the group has experienced trading challenges in the first half of the year, principally in agribusiness and its Irish milk processing businesses. He added that as markets currently stand the group expects to meet market expectations for the full year.

Chairman, Tom Corcoran added that the group is on target to complete two major strategic international dairy processing investments. Milk powder production has commenced in Nigeria in the Glanbia joint venture with PZ Cussons plc and the major cheese and whey processing joint venture in New Mexico is on track to being commissioned at the end of the year.