Glanbia's growth boost for Northern Irish cheese
Irish food business Glanbia, which has a major cheese processing
operation in Northern Ireland, reported its sixth consecutive year
of double-digit earnings growth, with a 10.6 per cent rise in
earnings in the year ending 2 January 2016.
The global dairy and nutrition group's earnings before interest and tax rose by nine per cent. The group has a main mozzarella
processing operation near Lurgan in county Armagh and sources milk
from Northern Ireland farms including from Fivemiletown Co-Operativein county Tyrone. The group is headquartered at Kilkenny in the
Republic of Ireland.
Glanbia's strongest performing division was Performance Nutrition,
which makes speciality health and fitness products like protein
powder.
Glanbia Group managing director Siobh?n Talbot says: "The results
demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets."
She adds: "Glanbia takes pure and clean ingredients including milk, whey and grains, and using our expertise, we produce high-quality
nutritional ingredients and branded products for consumers
worldwide.
"Our unique portfolio of performance-nutrition brands and
nutritional ingredients are right at the heart of emerging growth
opportunities."
The report says: "Glanbia Cheese performance declined marginally
year on year due to a significant reduction in European mozzarella
prices. While production volumes increased as a result of good
underlying demand in the sector this was not enough to offset the
decline in pricing."
Glanbia is a global nutrition company, grounded in science and
nature and dedicated to providing better nutrition for every step oflife's journey.
Glanbia employs over 6,000 people across 32 countries and its
products are sold or distributed in over 130 countries with an
annual turnover of around ?3 billion. Major production facilities
are located in Ireland, the US, the UK, Germany and China.
Northern Ireland Food and Drink companies are celebrating the
regions pure, natural, quality food and drink in 2016, with a seriesof local, national, and international promotional events.
operation in Northern Ireland, reported its sixth consecutive year
of double-digit earnings growth, with a 10.6 per cent rise in
earnings in the year ending 2 January 2016.
The global dairy and nutrition group's earnings before interest and tax rose by nine per cent. The group has a main mozzarella
processing operation near Lurgan in county Armagh and sources milk
from Northern Ireland farms including from Fivemiletown Co-Operativein county Tyrone. The group is headquartered at Kilkenny in the
Republic of Ireland.
Glanbia's strongest performing division was Performance Nutrition,
which makes speciality health and fitness products like protein
powder.
Glanbia Group managing director Siobh?n Talbot says: "The results
demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets."
She adds: "Glanbia takes pure and clean ingredients including milk, whey and grains, and using our expertise, we produce high-quality
nutritional ingredients and branded products for consumers
worldwide.
"Our unique portfolio of performance-nutrition brands and
nutritional ingredients are right at the heart of emerging growth
opportunities."
The report says: "Glanbia Cheese performance declined marginally
year on year due to a significant reduction in European mozzarella
prices. While production volumes increased as a result of good
underlying demand in the sector this was not enough to offset the
decline in pricing."
Glanbia is a global nutrition company, grounded in science and
nature and dedicated to providing better nutrition for every step oflife's journey.
Glanbia employs over 6,000 people across 32 countries and its
products are sold or distributed in over 130 countries with an
annual turnover of around ?3 billion. Major production facilities
are located in Ireland, the US, the UK, Germany and China.
Northern Ireland Food and Drink companies are celebrating the
regions pure, natural, quality food and drink in 2016, with a seriesof local, national, and international promotional events.