Profit news from Nigerian partner lifts Glanbia as share price rises

PZ CUSSONS, Glanbia’s joint venture partner in Nigeria under the Nutricima name, says the business will be in profit in its current half-year which ends in May 2009.

The news has caught the attention of Irish analysts and Goodbody’s Liam Igoe has a buy recommendation on the stock.

Shares in Glanbia closed up at €2.80 yesterday, an increase of 7 cents, or 2.56%, on a day the market rose by just over 1%.