Glanbia repeats earnings forecast

Glanbia said today volatility in diary markets in the first half of the year means its Food Ingredients Ireland unit has become loss-making.

This was having a “detrimental effect” on the performance of the group during a period it described as “very challenging.

The company repeated its forecast for adjusted earnings per share of between 30 and 32 cents for the full year.

While Food Ingredients USA performed in line with expectations, its results will be behind the equivalent period in 2008.

The company will announce full-year results on August 26th.