Glanbia upgraded its earnings and revenue guidance for 2025 after seeing stronger-than-expected sales volumes across its business segments in the first nine months of the year.
The company’s key Optimum Nutrition revenue grew by 4.6% in the year to the end of September, including an acceleration of 14.3% in the third quarter.
Hugh McGuire, Chief Executive Officer, said: “I am pleased to report that Glanbia delivered a good performance during the period, delivering Group like-for-like revenue growth of 3.3% across our portfolio of better nutrition brands and ingredients.
“Our Performance Nutrition segment delivered a very strong performance in the third quarter, with our Optimum Nutrition and Isopure brands delivering double digit volume growth. Our Health & Nutrition and Dairy Nutrition segments also continued to perform well, with Health & Nutrition volumes showing strong growth in its priority end-use markets.”
He said he expects the company’s full-year earnings-per-share to be at the upper end of the guidance range of $1.30 - $1.33 (€1.13 - €1.16).
During the period Glanbia completed the sale of its SlimFast and Body & Fit businesses. Speaking to investors after the release of the earnings update, Mark Garvey, Chief Financial Officer at Glanbia, revealed that the total consideration for both brands was approximately $63m (€54.8m). He said that there would be a further charge of approximately $30m (€26.1m) would be taken in the annual accounts on the sale of SlimFast.
Investors reacted well to the management statement, with shares in the company trading above €15, an increase of approximately 5% on Tuesday’s closing price.
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