Glanbia posts drop in revenue following price reductions

The firm reiterated its full year guidance of 5% to 8% growth in adjusted earnings per share.

“Optimum Nutrition, our flagship global brand, continues to strengthen its leadership position and delivered double-digit volume growth in the period, supported by increased marketing investment,” said Glanbia chief executive Hugh McGuire.

Irish nutrition giant Glanbia posted a marginal drop in revenue as price decreases offset volume growth in the first half of 2024.

The company, which makes Optimum Nutrition under its Glanbia Performance Nutrition (GPN) division, reported revenue declined $1.82bn (€1.6bn), a fall of 1% on the same period a year earlier.