Glanbia projects earnings increase

SALES growth in Glanbia’s cheese and global nutritional businesses has led the food group to project its earnings per share to increase by 20% for 2011.

In an interim statement for 2011 published yesterday, Kilkenny-based Glanbia reported revenue growth of 28% for the 10 months to October 31, compared to the same period last year.

Already Europe’s leading supplier of mozzarella cheese for pizzas, the group has also enjoyed a 35% surge in its US cheese and global nutritionals business.