Glanbia shift to ingredients may be a big risk

MAJOR shifts in the fortunes of Glanbia formed out of the merger of Avonmore and Waterford dairy co-ops are envisaged in a new report.

It reckons by 2010 up to 40% of its profits could be generated by its ingredients operations against a mere 5% at this stage.

Already the analysis by Goodbody Stockbrokers as part of a comprehensive report on the Irish-quoted food sector suggests the Kilkenny based group is moving towards ratings with firms in the ingredients sector.