Moloney buoyed up as rising global demand drives growth

GLANBIA chief executive John Moloney is buoyed up by prospects for the group given the improving outlook for global demand.

Countries such as China India, Pakistan and more recently Russia are underpinning demand and prices. That improved outlook is set to continue throughout this year and the group is talking about an 11% to 13% growth in adjusted earnings per share in 2011.

While that is well below the 24% delivered in 2010, in the context of the industry, it compares well with its peers.