Dispute fails to rock Glanbia

SPEAKING in early April, IFA president John Dillon said the Glanbia price cut was a body blow to its suppliers effectively telling farmers that their family’s income matters less than the Glanbia share price. He was speaking after a four cent cut in the price of a gallon of milk paid to farmers.

In his statement, the IFA president noted Glanbia’s shares rose seven cent on the day of the announcement of the cut. The interesting thing is that the markets took little or no notice of the no-confidence motion in the co-op board at Tuesday’s AGM that followed the AGM of the Plc.

Once Glanbia Plc put out its positive trading statement after the AGM saying it would meet earnings targets this year the response was a 2% hike in the share price to €2.65.