Glanbia maintains growth targets despite shrinking revenue

The company posted an overall fall of 5.5% in group revenue in the period.

The company’s Glanbia Performance Nutrition division, which sells its popular Optimum Nutrition protein powder, continued to grow but the company’s Slimfast products weighed on momentum.

Nutrition giant Glanbia maintained its growth targets for the year despite a decline in revenue in the first three months driven by dairy market pricing.

Glanbia forecasted growth between 5% and 8% for this financial year as it recorded volume growth of 1.5% in the first three months, compared to the same period a year earlier, which was offset however by a price decline of 6.9%.