Glanbia: Milk prices to remain weak into 2016

Glanbia’s global ingredients business is likely to remain challenged in the second half of the year with its managing director anticipating persistent weak milk prices for at least the remainder of this year.

Group managing director, Siobhán Talbot indicated that a “mid-single digit” earnings decrease is likely to materialise in its global ingredients business over the full-year, with EBITA to date of €60.3m representing a 9.5% drop on the same period last year.

Overall, the group reported a strong set of first-half results which included an increase in EBITA from its wholly owned business of €138.5m, up 7.5%.