Glanbia reports 22% rise in operating profits

GLANBIA, the biggest supplier of mozzarella cheese in Europe, has delivered strong results for 2010 that beat market forecasts.

Recovery in global dairy markets, good demand for its cheese in the US and good organic growth in its nutritionals operations all contributed to the 18.4% increase in turnover to over €2.1 billion.

Glanbia’s shares remained unchanged at the close of business at €4.30.