Glanbia sustains 2010 growth due to steady growth in global dairy sector

GLANBIA, the international nutritionals-to-cheese group, said the growth of 2010 has been sustained into this year and it is sticking to its earlier adjusted earnings per share forecast of 11%-13% for the year on a constant currency basis.

The Kilkenny-based company, which is the biggest cheddar cheese maker in the US with a 19% market share, said: “The positive underlying trends in global dairy and nutritionals sectors experienced in 2010 have continued in 2011.”

Overall, it said the return to profits in 2010 after a difficult 2009 will continue, boosted by the continuing uplift in the world economy — set to grow 4% in 2011.