Glanbia targets 8%-10% earnings growth this year

Diversified food group, Glanbia has maintained its full-year guidance for 8%-10% adjusted earnings per share growth on the back of a strong trading performance for the first nine months of the year.

The Kilkenny-based dairy, ingredients and nutrition specialist yesterday said that group revenue, including contribution from its joint venture and associate producers, grew by 8%, on a year-on-year basis, in the nine months to October 4, and said its outlook for 2014 as a whole, remains “positive”.

Group managing director, Siobhán Talbot said the business delivered “a strong performance” for the first nine months, mainly driven by the Global Performance Nutrition arm, while Global Ingredients and other business divisions performed “in line with expectations”.