Glanbia profits down in 'difficult' market

Food group Glanbia has announced an operating profit of €40.3m (pre exceptional items and including share of joint ventures and associates) in its interim results for the first half of 2004.

The equivalent amount for 2003 was €45.7m, representing a fall in 2004 of 11.8%. "This reflects the impact of the difficulties in the Irish pigmeat sector on the first half results," the company said in a statement.