Earnings at Glanbia, while Kerry said the increase in revenue

  • Earnings at Glanbia, while Kerry said the increase in revenue
    FarmIreland.t. E.
    Group revenue Kerry rose 1.4 PC year-on-year to €3.2 billion in the six months to 30 June and half year results from Glanbia had total revenue of the group will decrease from €16.7 million
    https://www.independent.ie/business/farming/agri-business/earnings-down-at-glanbia-while-kerry-reports-revenue-increase-37199687.html
    https://www.independent.ie/business/article37199330.ece/2be8a/AUTOCROP/h342/2018-02-22_bus_38746480_I1.JPG

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Group revenue Kerry rose 1.4 PC year-on-year to €3.2 billion in the six months to 30 June and half year results from Glanbia had total revenue of the group will decrease from €16.7 million

Kerry half year results show that revenue growth reflects volume growth of 3.6 PC and 0.6 PC improvements in pricing and the contribution from acquisitions, according to interim results of the group.

However, the consumer products business saw its sales decrease in margin of 10 basis points to 10.5 PC, as a steady volume growth and contributions from acquisitions were offset by unfavorable currency movements.

On a constant currency basis, the group’s sales rose 8pc year-on-year. Group trading profit totaled €340 million, or 0.5 PC year-on-year and amounted to 8.7 PC in constant currency.

Glanbia

However, the results of the first half in Glanbia showed that earnings before interest, tax, depreciation and amortization in Glanbia, which is by 7.3 PC year-on-year in constant currency to €123.7 m in the six months to June 30.

During the period the group’s revenue increased by 3.6 PC in constant currency to €1.1 billion, however, it was 6.2 PC in reported currency.

Meanwhile, the total profit of the company (after discontinued operations and exceptional items) for the reporting period amounted to €98.2 m € 16.7 m to year and a half.

Glanbia on the Pro-forma share of joint ventures profit after tax from continuing operations decreased by €8.2 million to EUR 17.8 m, According to interim results of the group.

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The group described the performance as “in line with expectations”.

“We continue to drive volume momentum from 5.7 PC growth in the first half and reiterate guidance for the full year volume growth in key portfolios Glanbia performance nutrition Glanbia and nutrition solutions in the mid-high range is unambiguous,” Siobhán Talbot, group MD, said.

“We expect profitability for the full year to be similar to 2017; we have focused on investing in our brands and operational infrastructure in the first half in anticipation of reducing costs, which materialize as expected in the second half of the year.”

Looking forward Glanbia again for a year plan 2018 5pcs 8pcs for growth Pro-forma adjusted earnings per share from continuing operations, in constant currency.

Glanbia Performance nutrition business revenue has grown by 4.9 PC on a constant currency (a decline of 4.4 PC was), while its earnings before interest, tax, depreciation and amortization decreased by 16.4 PC on a constant currency basis (24.6 PC on a reported basis).

Meanwhile, its biologically active additives showed revenue growth of 2.4 PC on a constant currency basis, which is 7.8 PC on a reported basis.

Earnings before interest, tax and depreciation for the dietary Supplement business growth of 4.5 PC in constant currency, however, it was 6.2 PC on a reported basis.

Kerry

CEO Kerry Edmond Scanlon said that the development of consumer trends and market changes have opened up opportunities and demand for Kerry industry RD and a broad range of technologies.

“This, along with the reinforced end of the unit using the market’s attention, drove healthy growth in volumes and base expansion margin in the first half of 2018. We also continued to make progress and to invest in initiatives for business development aligned to our strategic development priorities”.

Within six months, the group on the taste and business-food reported growth of 4.1 PC, while its consumer products business notes growth of 1.3 PC.

Looking forward the group said it is updating its guidance for the year and now expect to achieve growth in adjusted earnings per share for 7pcs 10pcs in constant currency.

Previously, the group expected to achieve growth in adjusted earnings per share of 6pcs 10pcs in constant currency.

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