Glanbia sees revenue grow 9%

Glanbia’s share price has near doubled from around €6 a share on the Irish Stock Exchange in May 2012 to around €11 yesterday on the back of 9% revenue growth for the four months to April.

Viewed over three years, the share value has near quadrupled. Stockbroker Davy has been guiding 8%-10% growth for Glanbia throughout the past year.

In response to Glanbia’s interim statement yesterday, Davy commented: “Results in line, reiterating full-year guidance.” The IMS release coincides with the formal breaking of ground today for the construction of Glanbia Ingredients Ireland Ltd’s (GIIL) new €150m dairy processing facility at Belview Port, Co Kilkenny.