Glanbia to continue on expansion trail

Glanbia will continue to expand via organic growth and acquisitions, managing director of the food group Siobhán Talbot said.

The global nutrition group has just posted 2015 pre-tax profits of €271.0m, up 10.5% in constant currency, and up 29.4% on reported figures for 2014. Group revenues were €3.667bn, down 7.4%. Pre-tax earnings were €310.7m, up 9%.

Adjusted earnings per share of 79.14c were up 10.6% in constant currency, and up 29.4% on reported figures. Analysts at Davy lifted their earnings per share forecast by around 4% to 86c.