Glanbia has reported a significant recovery in turnover and profits for the first six months of 2010, driven largely by the strong performance of its nutrition and ingredient businesses.
Glanbia is revising its 2010 earnings per share guidance upwards as figures from the dairy ingredients business improve with the recovery in global dairy prices.
Analysts and industry commentators have described the mooted sale of the Irish business of Glanbia Plc to Glanbia Co-op as a ‘win-win’ deal for both parties.
The Irish food firm Glanbia has reported an 18.5 per cent rise in profits for the year but its performance was hit by a struggling dairy sector and it predicts tough times ahead.
Glanbia has entered into negotiations over selling its meat
processing business as it looks to focus on diversifying its
earnings base towards higher-value ingredients and cheese.
Glanbia has received government support to expand its R&D
capabilities in Ireland, as the company moves to step up its focus
on innovation within dairy processing.
The Irish Commercial Court has judged that the Yoplait Essence
brand does not infringe on Danone's Essensis trademark, and that
the French dairy giant's trademark should be revoked, as it is not
a genuine market brand.
Ireland's dairy and ingredients giant, Glanbia, reported a dip in
sales and profits for its first half of 2006, stung by cuts to EU
support for the dairy sector.
Ireland's leading butterfat supplier Glanbia has signed a joint
venture agreement with Belgian group Corman, to make and market
dairy spreads and butterfat products.
Irish food group Glanbia and dairy co-operative Connaught Gold will
soon be able to reap synergy benefits, after agreeing to share some
elements of their dairy processing operations, Tom Armitage
reports.
Irish food group Glanbia has picked up a €10.5 million contract to
operate Dairygold's CMP branded liquid milk and cream business,
allowing Dairygold to focus on consolidating sales across its
branded product line-up, Tom Armitage...
Dairy ingredients firm Glanbia has bought the German nutrient
delivery systems company Kortus for €14.5 ($19.15) million, it said
yesterday, strengthening its product range and solution capability.
Food ingredients sales at Irish dairy firm Glanbia jumped 20 per
cent during the first half and lifted profits 49 per cent higher
than the previous year, reported the company, which is targeting
strong growth for its ingredients business...
Moves into higher added-value are likely to pay off in the long
term for Irish dairy group Glanbia, but the company is continuing
to suffer from the short-term effects of offloading a number of
primary food operations.
Milk Link and Glanbia plan to embark upon a new business venture in
an effort to exploit the UK cheese market. The new formation will
be 75 per cent owned by Milk Link and 25 per cent owned by the
Glanbia.
Irish dairy firm Glanbia is to invest €15 million in a new
innovation centre to develop functional foods and health
ingredients, Ireland's Minister for Agriculture and Food Joe Walsh
revealed yesterday.
Irish dairy group Glanbia has begun construction of a new cheese
and whey manufacturing facility expected to generate sales of
around $350 million per annum when completed next year.
UK-based company Packaging Automation has developed a revolutionary
new machine for blue stilton that is claimed to wrap products in
packaging capable of containing strong smells. The concept,
designed for Glanbia Foods, is the result...
Glanbia, the Irish dairy product maker, has joined forces with
Cussons, the UK group best known for its Imperial Leather soap, to
produce and market milk powder for the Nigerian market.
Good underlying performances from Glanbia's prepared food and dairy ingredients businesses partially made up for the firm's exit from the prepared meat market.
Irish dairy group Glanbia has reached a settlement with the Irish
competition authority over allegations concerning the fixing of the
retail price of milk.
Weak international dairy markets took their toll on sales at
Ireland-based food and ingredients group Glanbia in 2002, pushing
down turnover from €2.6 billion to €2.3 billion.
Ireland's Glanbia and Uruguay's Conaprole have joined forces to
help develop the market for dairy ingredients in Latin America. A
new joint venture company, Conabia, based in Mexico, will develop
sales throughout Central...
Exposure to volatile international dairy markets impacted the dairy
ingredients business at Ireland's Glanbia in the first half, but
improved performances from consumer food products helped redress
the balance.