Industry & Business

Glanbia Proposes Sale of Dairy Ireland as Earnings Per Share Increases 11.2 Percent

 Breaking News
  • Neueda Technologies Establishing a Software Engineering Hub in Athlone Neueda Technologies, a privately-owned IT Training, development and consulting services company headquartered in Belfast, is establishing a Software Engineering Hub in Athlone, Co. Westmeath, employing 200 staff over four years. The project is supported by the Irish Government through IDA Ireland. The company will undertake software development services for global telecommunications and financial services clients at [...]...
  • Progress at Last! – British Irish Chamber Welcomes UK White Paper on Brexit The British Irish Chamber of Commerce has welcomed the publication of the white paper on Brexit by the UK Government but has called for a full agreement on services to be sought.   Commenting after the publication of the white paper, John McGrane, the Director-General of the British Irish Chamber of Commerce, said: “At last we [...]...
  • Fexco to Create 175 New Jobs in Ireland’s South West Irish-international fintech company, Fexco has announced a significant expansion of its operations headquartered in Killorglin, Co Kerry creating 175 new jobs over 3 years. The jobs form part of Fexco’s expansion strategy reinforcing the South West’s position as the driving force of Ireland’s fintech industry. The announcement was made in Killorglin by Julie Sinnamon, CEO of [...]...
  • Reliance on UK Exports Could Lead to High Brexit Cost Increases For Irish Firms Irish-owned firms rely heavily on the UK as the source of intermediate inputs, which are goods used to produce a final product. Over half of the total imports used by Irish-owned firms are sourced in the UK with many importing solely from the UK market. Many Irish-owned companies are therefore highly exposed to cost increases [...]...
  • Center Parcs Serves Up €5.2 Million in Contracts to Irish Food Companies Four of Ireland’s top food companies will benefit from a significant boost to their businesses as Center Parcs announces the awarding of food supplier contracts to its Center Parcs Longford Forest resort – due to open in summer 2019 – worth a combined total of €5.2 million. Center Parcs has awarded the following food supplier contracts: Dublin [...]...

Glanbia Proposes Sale of Dairy Ireland as Earnings Per Share Increases 11.2 Percent

Glanbia Proposes Sale of Dairy Ireland as Earnings Per Share Increases 11.2 Percent
February 22
12:28 2017

Nutrition company Glanbia announced the proposed sale of 60% of Dairy Ireland on Wednesday as results for the year 2016 were released, showing an increase in adjusted Earnings Per Share  to 87.66 cent, up 11.2% from 2015. This marks the seventh year in a row of double-digit earnings for the group.

“ It has been an exciting start to 2017 with a number of key strategic initiatives progressing which will shape the future direction of the Group,” Group Managing Director Siobhán Talbot said. “Today Glanbia is announcing that it has signed a non-binding memorandum of understanding for the sale of 60% of the Dairy Ireland segment to Glanbia Co-operative Society Limited. Also, as recently announced Glanbia Performance Nutrition has made two acquisitions within the plant based nutrition category and direct to consumer channel further expanding our channel and consumer reach. In addition Glanbia is also in advanced discussions to form a new Joint Venture (JV) in the US to build a large scale cheese and whey facility. All of these initiatives demonstrate a desire to play to our strategic strengths and are aligned to our vision to be one of the world’s top performing nutrition companies.”

The group also announced that earnings before interest, taxes, and amortization (EBITA) from wholly owned business were recorded at €305.1 million, up 12.5% on 2015, adjusted for constant currency.

Glanbia Performance Nutrition EBITA  was recorded as €162.6 million, a 20% increase on 2015, constant currency, while Glanbia Nutritionals EBITA came in at €111.8 million, a constant currency increase of 4.5%.

The company’s announcement can be read here.

About Author

editor

editor

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4