Shares in Glanbia were the standout performer of the listed Irish agribusiness companies this week.

Glanbia shares touched off a 20-month high, having jumped 6% in the last week close to €18.

Outperformed expectations

The jump in Glanbia’s share price came after the group outperformed market expectations, with adjusted earnings per share (EPS) increasing 9% for its 2018 financial year to 91.01c.

Glanbia reported a 5% rise in profits (EBITA) in its fully owned businesses to reach €284.9m for 2018, while turnover in the business increased 4% to €2.4bn. Profit margins expanded 10 basis points during 2018 to 11.9%.

Kerry Group

Of the other listed agribusinesses, shares in Kerry Group are slightly down this week (-0.5%) to €91.40, despite the group reporting a 3% increase in sales to €6.6bn and a 3% increase in trading profits to €805.6m.

Shares in Kerry fell over the company’s exposure to Brexit, with almost a quarter of its €6.6bn revenues in 2018 generated in the UK.

FBD

Elsewhere, shares in FBD are up more than 6% this week to €8.80. The insurance group will report its full year results next week.

Aryzta shares are also up this week by 9% to break the €1 mark.

There were also gains for shares in Greencore (+3%), Tesco plc (+4%) and Total Produce (+2%). Shares in Origin Enterprises are down 3% in the week to €5.33.

On oil markets, the price of Brent crude oil has risen over recent weeks and is currently trading at just over $67/barrel.