Glanbia’s share price has near doubled from around €6 a share on the Irish Stock Exchange in May 2012 to around €11 yesterday on the back of 9% revenue growth for the four months to April.

A strong performance by Glanbia’s nutritional division drove the food producer’s profits before tax to €198.8m as 16,000 farmers are set to receive a windfall of almost 9m plc shares today.

Market analysts have concurred with Glanbia’s view that a successful international growth strategy, coupled with the likely spinoff of its Irish dairy business to co-op members, will see a growth in its annual adjusted earnings per share.

A3 shareholders don’t have any Glanbia Co-op voting rights.

Glanbia has strengthened its US nutritional and ingredients business with the €50m acquisition of Aseptic Solutions Inc (ASI) in Corona, California.