Glanbia sees operating profit grow 18% as revenue reaches €2.7bn

Food group Glanbia has reported an 18% growth in operating profit to €161m and revenue is up 23% to €2.7bn for 2011.

The group’s Global Nutritionals division enjoyed sales growth in the US, as did newly acquired health and nutrition company BSN, which has been integrated into fellow US-based group member Performance Nutrition.

Dairy Ireland revenue rose almost 19% to €1.35bn, with profits up 23% to €53.6m. Volumes and prices in the ingredients business rose, but margins declined in the consumer products business, despite an increase in revenue.