Dairy and nutritionals group Glanbia has reported results ahead of expectations this morning with total group revenue rising by 8% to €3.28 billion.
Earnings for the year to the end of December – before the deduction of interest, taxes and other expenses – climbed 5.5% higher to €226.7m.
The growth was mainly driven by performance in two areas – global performance nutrition and global ingredients.
The group is guiding 8-10% EPS growth on a constant currency basis this year with similar growth predicted up to 2018.
Glanbia said it was recommending a final dividend of 5.97 cents per share. This brings the total dividend for the year to 10 cent per share, up 10% on 2012.
“Glanbia had another year of double digit earnings growth in 2013 as the Group delivered a 12% increase in adjusted earnings per share. Our two global growth platforms performed well, particularly Global Performance Nutrition where strong momentum in branded revenue growth and international expansion delivered a 28% increase in profitability, on a constant currency basis. We expect 2014 to be another positive year for the Group. We will benefit from our ongoing organic investment programme, good prospects for Global Ingredients and Global Performance Nutrition and an expected improvement in Dairy Ireland. We are guiding 8% to 10% growth in adjusted earnings per share for the full year 2014, on a constant currency basis. Our ambition is to continue to deliver a similar annual organic growth rate through to 2018, while seeking to sustain a return on capital employed in excess of 12%.”
Siobhan Talbot, New Group Managing Director
You can see the full 2013 year result on http://www.glanbia.com/media/press-releases/2014/12-03-2014
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