Revenues rose by 6.6% in the first nine months of this year
Glanbia’s wholly owned revenue for the first nine months of the year, ended September 2017, was 6.6% higher compared to the same period last year, while the company has managed to maintain its full-year guidance of 7%-10% growth.
Glanbia cited that volume growth of 2.4%, pricing growth of 0.9%, and contribution from acquisitions of 3.3%, were the key factors that helped drive revenue growth resulting in this strong performance for 2017 so far.
Group managing director, Siobhán Talbot stated, “Glanbia delivered a good result in the first nine months of 2017 with wholly owned revenue from continuing operations growing 6.6% in the period. Glanbia Performance Nutrition was the main driver of revenue growth with Glanbia Nutritionals continuing to perform well.”
She continued, “Our joint ventures delivered strong revenue growth as a result of improved dairy markets. The outlook for the remainder of 2017 is positive and we reiterate our full year guidance of 7% to 10% growth in pro forma adjusted earnings per share, constant currency, for the continuing group.”
Glanbia Performance Nutrition
Glanbia Performance Nutrition (GPN) seems to be becoming increasingly important for the group, with a reported revenue increase of 9% for the period.
The main drivers behind this were a 2.7% increase in volume, as well as 7.4% growth from the acquisitions of Amazing Grass and Body & Fit. Though this was offset by a 1.1% price decrease.
Glanbia outlined in a statement that a solid performance in the US, EMEA and LAAPAC market helped to drive sales and revenue for GPN. It was also stated that the reported price decrease was primarily a function of brand investment and innovation support in the US.
Similarly, Glanbia Nutritionals (GN) delivered growth of 4.6% for the first nine months of 2017. This was driven by a price increase of 2.5% – predominantly the result of improved dairy markets – and volume growth of 2.1%, driven by Nutritional Solutions.