Glanbia warns rates may upset prices for dairy products, growth plans

  • Glanbia warns rates may upset prices for dairy products, growth plans
    FarmIreland.t. E.
    The imposition of trade tariffs in the world may lead to violation of the prices of dairy products and influence the growth targets for the Irish food company Glanbia posted in may, said its financial Director on Thursday.
    https://www.independent.ie/business/farming/agri-business/agri-food/glanbia-warns-tariffs-could-disrupt-dairy-prices-growth-plans-37200702.html
    https://www.independent.ie/business/farming/article35472041.ece/80f99/AUTOCROP/h342/FAR_20130514_AFA_008_27545286_I2.jpg

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The imposition of trade tariffs in the world may lead to violation of the prices of dairy products and influence the growth targets for the Irish food company Glanbia posted in may, said its financial Director on Thursday.

Glanbia, supplier of protein supplements for gym goers, wants to increase revenues by more than a third to €5 billion (£4,51 billion) by 2022 and a target average earnings per share (EPS) growth of 5-10pc on a constant currency basis in this period.

It reiterated its guidance for 5-8pcs EPS expansion this year after 7pcs dip in the first half in line with expectations, but noted in their results that further trade tariffs can have a negative impact on its five-year growth plan.

“The area that we consider very carefully what is happening on the global trade front, especially in discussions around tariffs, etc. that might cause some inconvenience (to the price of dairy products),” mark Harvey told Reuters in a telephone interview.

“At the moment, we would say that prices for dairy products remained relatively stable, and we’ll see what the next few months with an eye to the impact on international trade.”

Shares in Kilkenny firms were 3.5 PC lower at €14.59 on the 08.15 GMT.

As Garvey said main exhibition Glanbia on the tariff risk at the expense of the prices for dairy products, some products have already suffered from the introduction of special duties.

He stressed that the trade of one of its joint ventures carries on from the United States to Mexico and selling in China through its components business, as territory Glanbia closely.

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“For some products, is not very material at this point, we have seen rates come. And they kicked to the period from July, we talked to customers and suppliers and have been able to mitigate them,” said Garvey.

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