Glanbia in line with growth forecasts
The global nutrition group’s nine-month interim management statement reports this performance was driven by volume growth of 2.4%, pricing growth of 0.9%, and a contribution from acquisitions of 3.3%. Total group revenue increased 13.5% on a reported basis and 13.7% on a constant currency basis. This was driven by 2.3% volume growth, 6.4% price improvement, and 5% contribution from acquisitions.
Glanbia’s net debt has been decreased by €144m compared to the end of September 2016, largely due to receiving €210m net cash proceeds relating to the sale of 60% of Dairy Ireland to Glanbia Co-op this year.
