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Glanbia reiterates guidance

By BFN News | 07:28 AM | Wednesday 04 November, 2015


Glanbia plc, the global nutrition group, saw a good performance in the first nine months of the year with reported revenues up 9.0% in its wholly owned business and it reiterates its 2015 guidance of 9%-11% growth (c25% reported) in adjusted earnings per share. The group says its performance in the first nine months has been driven mainly by Global Performance Nutrition. Group managing director Siobhán Talbot said: "The outlook for the remainder of 2015 is positive and we reiterate our full year guidance of adjusted earnings per share growth of 9% to 11% on a constant currency basis with a reported result of circa 25% if exchange rates remain at current levels for the rest of the year. "In line with our growth agenda, I am pleased to announce that we are in advanced discussions, with our US joint venture partner at South West Cheese, to expand cheese and whey production at our facility in New Mexico by 25%. This project is expected to take over two years to complete at an approximate cost of $140 million." Story provided by StockMarketWire.com

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