Outlook positive for Glanbia despite dairy market problems

RESULTS from Glanbia last week left the markets pretty indifferent, although the dairy/consumer food group produced good results, achieved despite difficult global dairy market conditions.

On the plus side, the group is committed to developing the high margin whey ingredients market where the demand for quality sports drinks and higher nutritional food offers considerable scope for product development.

Meanwhile, the group seems to have taken the last of the laggards out of the business with the closure of the British consumer foods division. The costs of exiting that business were high, yielding exceptional charges of 75m in the first six months' figures.