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Group Performance In Q1 'In Line With Expectations' - Glanbia

Wednesday, 1 May 2024 07:24

The company has published its first quarter Interim Management Statement ahead of its AGM today.

Glanbia says its group performance in Quarter one of 2024 is in line with expectations.

Group revenue for the period declined by 5.5%, largely because of volume growth of 1.5%, which was offset by price decline of 6.9%, driven largely by dairy market pricing.

Like-for-like revenue for Glanbia Performance Nutrition declined by 1.9%, reflecting volume growth of 1.4% and a price decline of 3.3%.

While Glanbia Nutritionals revenue declined by 8.8% in the first quarter of the year. 

Summary of Q1 2024 revenue progression versus prior year 

Constant currency movement 

                               Volume 

Price 

Like-for-like 

Acquisition / Disposals 

Total constant currency 

Total 

reported currency 

Glanbia Performance Nutrition 

1.4% 

(3.3%) 

(1.9%) 

- 

(1.9%) 

(1.6%) 

Glanbia Nutritionals 

1.7% 

(10.2%) 

(8.5%) 

(0.3%) 

(8.8%) 

(8.9%) 

Nutritional Solutions 

3.8% 

(5.5%) 

(1.7%) 

(0.6%) 

(2.3%) 

(2.5%) 

US Cheese 

0.0% 

(14.3%) 

(14.3%) 

- 

(14.3%) 

(14.3%) 

Total wholly-owned businesses 

1.5% 

(6.9%) 

(5.4%) 

(0.1%) 

(5.5%) 

(5.4%) 

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