Glanbia : H1 2023 results unlikely to contain any surprises, marked by the fall in volumes and the upturn in profitability of GPN
>GPN: SlimFast continues to act as a drag in Q2 although less so than in Q1 - Glanbia is due to publish its interim results on 16 August. We are forecasting organic growth of 3.5% for GPN. Volumes will likely be down by an estimated 7%, with an improvement in Q2 vs Q1 (-9.5%). Volumes continued to be adversely affected by the further decline in Slimfast sales (delistings), against the backdrop of a persistently lacklustre US weight management market. The group expect...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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