Glanbia has reported its sixth consecutive year of double-digit earnings growth, with a 10.6% increase in its adjusted earnings per share on a constant-currency basis for the year ending 2 January 2016.
The global dairy and nutrition group’s earnings before interest, tax and amortisation (EBITA) for the year stood at €310.7 million, an increase of up to 9% on the previous year.
Glanbia’s strongest performing division was Performance Nutrition, which makes speciality health and fitness products like protein powder, which grew its EBITA by 28.3% on a constant-currency basis to €135.6 million.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Meanwhile, its Global Ingredients arm reported a decrease in earnings to €106.6 million. Dairy Ireland saw its EBITA rise to €28.8 million, however, due to a 4.5% recovery in its margins.
Glanbia Group managing director Siobhán Talbot commented, "The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets."
She added, "Glanbia takes pure and clean ingredients including milk, whey and grains, and using our expertise, we produce high-quality nutritional ingredients and branded products for consumers worldwide.
"Our unique portfolio of performance-nutrition brands and nutritional ingredients are right at the heart of emerging growth opportunities."
Glanbia is recommending a final dividend of 7.22 cent per share, bringing the total dividend for the year ending 2 January to 12.10 cent per share, an increase of 10%.
Pictured are Siobhán Talbot, group managing director, Glanbia plc, and Mark Garvey, group finance director, Glanbia plc.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.