Glanbia to achieve growth target

IMPROVING dairy markets and continuing progress in its nutritional range will ensure that Glanbia will achieve its 20% adjusted earnings per share growth guidance for the full year, the group said yesterday.

However, it warned in a market update that the domestic market remains challenging but the overall operating environment for the Kilkenny-based international nutritionals and cheese group will underpin its overall performance in 2010.

Dairy Ireland is having a mixed year. Irish Dairy Ingredients, which recorded heavy 2009 losses, returned to profit in the first half and the business is expected to be well ahead for the full year.