Glanbia reports better-than-expected results for 2018 - RTE.ie

Glanbia has reported better-than-expected growth in earnings in its 2018 results.

The food group saw 9% growth in adjusted earnings per share to 91 cent, exceeding the upper end of its guidance of 5-8% growth.

That saw shares in the company rise by as much as 12% in Dublin trade today, however its price ultimately finished the day in negative territory.

In its 2018 figures the global nutrition group reported full year revenue growth of over 4% to €2.38 billion.

It announced an increase in the full-year dividend of 10% to 24.2c per share.

All regions contributed to growth with a particularly strong performance from International markets.

Glanbia also announced today that it has agreed to acquire Watson, a US based non-dairy ingredient solutions business, for $89 million.

It completed the acquisition of SlimFast for $350 million in November.

"Watson is a non-dairy ingredient solutions business headquartered in Connecticut, USA. It is a highly complementary addition to our Nutritional Solutions business and will help broaden our capabilities in the ingredients sector," Glanbia Group Managing Director, Siobhán Talbot, said.

On the performance for 2018, Ms Talbot said it was driven by strong volume growth across the business

"Consumer demand for our brands and nutritional ingredients remains strong underpinned by positive long-term global health and wellness trends.

"The outlook for 2019 is positive and Glanbia expects to deliver 5% to 8% growth in adjusted earnings per share, constant currency," she added.

Shares were trading as much as 13% higher at around €18.28 this evening.

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