Despite a solid set of results from both global dairy ingredients and nutrition companies, shares are down 4% over the week at Glanbia, while Kerry Group shares are down by around 5%. Within those figures, shares were very volatile in both companies during the week – at one stage, Glanbia shares were down 10%, hitting lows of €13.53. They have since recovered and are currently trading at €14.23. Overall, shares in Glanbia are down almost 27% over the last year having hit highs of €19.20 last April.

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.

Over at the Kerry Group, shares have also taken a knock despite solid results. Kerry Group reported an increase in profits (EBITDA) of 4% to €917.5m for 2017. Revenues increased 4.5% to €6.4bn driven by 4.3% growth in volumes. This offset currency headwinds of 2.4% which accelerated during the year. Overall, shares are up 14% year on year. However, they have fallen back from highs reached in December of almost €95 and are currently trading at €82.

The decline in the share price better reflects the value and is a more realistic valuation based on current earnings and outlook.

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Shares in Glanbia slide 8% on announcement of results

Solid growth at Kerry Group despite currency headwinds