Glanbia predicts strong 2007

Glanbia said this morning its 2007 earnings were at the upper end of predictions after "strong results" in its food ingredients…

Glanbia said this morning its 2007 earnings were at the upper end of predictions after "strong results" in its food ingredients and nutritional sectors.

The dairy products manufacturer reported that it was boosted by increased global demand for dairy products last year.

This strong performance helped mitigate a "challenging" year for the consumer foods unit, the company said.

Last year's earnings were boosted by the acquisition of Carlsbad, California-based Seltzer Cos, whose ingredients are used in nutritional-food supplements.

READ MORE

Glanbia is moving away from its reliance on milk and cheese products and is focusing on convenience and health foods.

Glanbia will report full-year results on March 5th.