A good performance in first half of 2015 was driven by Glanbia’s global performance nutrition section, with a 17.4% increase on the prior half year. Results highlights for the half year included adjusted earnings per share €0.4060 cent, which is up by 4.2% constant currency (up 25.1% reported). Siobhán Talbot, group managing director of Glanbia notes,
”Glanbia delivered a good performance in the first six months of 2015 driven by a strong result from global
performance nutrition. Total group revenue for the half year was €1.9 billion. We are reiterating full year guidance of adjusted earnings per share growth of between 9% and 11%, on a constant currency basis. Given the strength of the US dollar this is likely to translate to reported
adjusted earnings per share growth of circa 25% for the full year if foreign exchange rates remain at current levels.

“These results demonstrate that our strategy is on track. As a global nutrition company, whose purpose is ‘delivering better nutrition for every step of life’s journey’, we are focused on the development of a branded and ingredient product portfolio to serve the growing consumer demand for nutritional products in formats suitable for healthy and active lifestyles. This has provided some insulation from the challenges of volatile global dairy markets.”

Glanbia also reported a satisfactory performance by its global ingredients arm, “in the context of challenging dairy markets with EBITA of €60.3 million, a 9.5% decrease on prior half 
year, constant currency (up 11.9% reported), and a good result from Dairy Ireland with EBITA of€17.5 million, as margins recovered to 4.7%.