Food
Date: Tuesday 29 Oct 2013
LONDON (ShareCast) - Food group Glanbia said it was positive about its full year outlook after a good performance in the first nine months of the year from its two core global businesses offset a challenging time for its Irish consumer products business.
The Ireland-based company said it expected to deliver 2013 underlying earnings growth of about 10% which is at the upper end of its previous guidance.
It comes after group revenues rose 14% in the nine months to October 5th against the same period last year thanks to 9% growth in volumes and 5% increase in prices.
Its global performance nutrition division delivered a 19% increase in revenues while its global ingredients arm lifted revenues by 14% in the same period.
However, its consumer products division had a ”challenging” time as milk input costs rose and the Irish retail environment remained difficult. It has started a restructure to cut costs but it will not feel the benefit of this in 2013 and as a result the company said it expected the division’s results for this year to be significantly below those of 2012.
The cost of the unit’s reorganisation is expected to be between €14m and €18m this year. However, this will be offset by a one-off pension related credit of €13m.
Shares jumped 4.66% to €10.10 at 09:44 on Tuesday.
TB
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Currency | Euro |
Share Price | 17.65 |
Change Today | 0.00 |
% Change | 0.00 % |
52 Week High | 18.44 |
52 Week Low | 13.08 |
Volume | 199 |
Shares Issued | 263.28m |
Market Cap | 4,646.91m |
RiskGrade | 168 |
Value |
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Price Trend |
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Income |
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Growth |
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Strong Buy | 2 |
Buy | 6 |
Neutral | 2 |
Sell | 0 |
Strong Sell | 0 |
Total | 10 |
Latest | Previous | |
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Final | Interim | |
Ex-Div | 21-Mar-24 | 24-Aug-23 |
Paid | 03-May-24 | 06-Oct-23 |
Amount | 21.21¢ | 14.22¢ |
Time | Volume / Share Price |
09:33 | 65 @ 17.81 |
08:31 | 4 @ 17.76 |
08:15 | 2 @ 17.77 |
08:04 | 0 @ 16.86 |
08:04 | 0 @ 18.44 |
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