Glanbia : A message of confidence in the outlook reiterated thanks to GPN
>A decline as expected in organic growth of 2.7% in Q1, penalised by the fall in GPN and NS volumes - Glanbia yesterday released its interim management statement for the first three months. Organic sales growth for Q1 came to -2.7%, a shade weaker than our estimate of -2%. It is based on a 6.2% decline in volumes and a +3.5% price effect, due mainly to the remaining price hikes carried out in 2022 for GPN. The decline in volumes is attributable mainly to: 1/ the conti...Glanbia is a performance nutrition and ingredients group, engaged in providing performance nutrition, cheese, dairy ingredients, specialty non-dairy ingredients and vitamin and mineral premixes. Co. segments include: Global Performance Nutrition, which is involved in the branded performance nutrition business; Global Ingredients, which manufactures cheddar cheese, provides dairy and non-dairy nutritional ingredients and micro-nutrient premixes; Dairy Ireland, which is engaged in the manufacture and sale of a range of consumer products and farm inputs; and Joint Ventures & Associates, which is engaged in the manufacture and sale of cheese, dairy ingredients and dairy consumer products.
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