Glanbia plc (“Glanbia”, the “Group”, the “Company”, the “plc”), the global nutrition company, is publishing its financial results for the six month period ended 2 July 2022 (“half year 2022”, or “HY 2022”).
Commenting Siobhán Talbot, Group Managing Director, said: “I am pleased to report that half year 2022 results have exceeded our plans, demonstrating the impact of a series of actions implemented since the latter part of last year in response to unprecedented inflation.
Revenues grew strongly with significant pricing initiatives and volume growth in all business segments in the period. Adjusted EPS1 at 52.31 cent, reflected improving momentum across the Group, building on a strong 2021 comparator. We continue to make progress on our strategic agenda and with the completion of the sale of the Company’s minority interest in Glanbia Ireland, Glanbia plc continues to evolve as a focused, purpose led global nutrition company. We will continue to monitor inflationary trends into the second half of the year but are confident that further pricing action and operational efficiencies will deliver improving margins and strong year-on-year EBITA growth.
Current expectations for improved EBITA growth in GPN underpin the upgrade in full year guidance for the Group, with growth in adjusted EPS1 now expected to be 9% to 13%, constant currency. Based on current foreign exchange rates, the reported adjusted EPS growth is expected to be 21% to 25%.”
