Glanbia shares fell in trading yesterday and closed down 8% at €13.53. At one stage, shares hit lows of €13.23 before recovering slightly by the end of trade. Overall shares are down almost 27% over the last year, having hit highs of €19.20 last April. They are now trading at the lowest levels in three years.

The fall comes as Glanbia reported another year of double-digit earnings growth and the group forecast a positive outlook for 2018, with growth expected of between 5% and 8%.

Profits increased 3.6% to €283.2m for the year, driven by improved numbers in the last quarter in its performance nutrition business. Revenue from its fully owned businesses also increased 7% to €2.4bn.

Siobhán Talbot, group managing director, said growth was broad based across all divisions, with good volume growth across all segments. She also sad that recent acquisitions and the disposal of its share of Dairy Ireland demonstrate the ambition of the group to build on its existing strengths, drive future sustainable growth and deliver on its vision to be one of the world’s top-performing nutrition companies.

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