Dairy and nutrition giant Glanbia has seen its wholly owned revenues grow by 2.4% on a constant currency basis in the first nine months of the year, compared to the same period last year, the company said in a statement.
This was driven by volume growth of 3.9% and a contribution from acquisitions of 3.6%, offset by price declines of 5.1%, the Ireland-headquarterd company said.
“Glanbia delivered a good performance in the first nine months of 2016," said Siobhán Talbot, Group Managing Director.
"On a constant currency basis wholly owned revenues grew by 2.4% versus the same period in 2015. All segments of the Group delivered volume growth in the period as we continue to invest in developing our portfolio of brands and value-added ingredients to benefit from the long term consumer trends in nutrition. The outlook for the remainder of 2016 is positive.”
Glanbia added that Total Group Revenue, including Joint Ventures and Associates, declined 0.4% on a reported basis and grew 0.2% on a constant currency basis.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
