Friday, March 29, 2024

Glanbia PLC reports earnings growth for FY 2013

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Glanbia PLC has announced its results for the financial year ended 4 January 2014.
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The business has three main components: sports nutrition (Global Performance Nutrition), a business-to-business ingredients supplier (Global Ingredients) and a manufacturer of dairy consumer products that is also involved in agribusiness (Dairy Ireland).

Glanbia PLC earnings before tax for 2013 was 2,382 million €, 7.9% higher than 2012 at 2,211 million €.

The driver of this growth was sports nutrition (Global Performance Nutrition) which had earnings before tax of 70.6 million € in 2013, 23.2% higher than in 2012.

Global Ingredients earnings before tax grew by 4% to 102 million €, while Dairy Ireland earnings before tax fell 29.1% to 15.1 million € in 2013.

Global Performance Nutrition has the highest profit margin (earnings before tax over revenue) of the three business components at 10.8% compared to Global Ingredients at 9.5% and Dairy Ireland at 2.3%.

From the annual report:

"Global Performance Nutrition continued to outpace the overall market growth during 2013 and we further increased our share within the USA. This performance was in the face of significant competition and reflects the strong appeal of our brands, our track record of delivering new and innovative products and our continued investment in building the business. We also benefited from our focus on the specialty and internet sports nutrition market sub-segments which remain the largest and among the fastest growing segments in the market.

International revenues also performed well during 2013 and we continue to make good progress in respect of our international growth strategy. The acquisition of Nutramino combined with a successful organic roll-out programme in 2013, brings our total in-market sales presence to 19 countries worldwide and further cements our position as the global leader in sports nutrition."

Glanbia PLC is an international performance nutrition and cheese group, headquartered in Ireland and listed on both the Irish and London Stock Exchange.

Click here to view the Glanbia PLC 2013 annual report.

Click here to view the Glanbia PLC website.

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