Kilkenny’s biggest employer aims high after strong first half performance

Glanbia has revised its growth forecasts after delivering strong first half 2021 results.

And now the local diary and nutrition giant has raised its full-year guidance from 6-12% growth to 17-22% growth on the back of its strong first half performance.

In a statement, the company said: “Previously Glanbia guided full year 2021 adjusted EPS growth to be in the upper end of 6% to 12% on a constant currency basis versus prior year.

“As a result of the strong performance in H1 2021, Glanbia has raised its expectations for the year. Glanbia now expects to deliver full year 2021 adjusted EPS growth of 17% to 22% on a constant currency basis versus the prior year.

“While the Group remains vigilant to the continued volatile and disruptive potential of the Covid-19 pandemic, strategic actions have enabled a strong recovery in the first half of 2021 from the comparative challenges of 2020.

“The strong first half performance positions the Group well to navigate expected cost inflation headwinds in the second half while also providing the opportunity to increase investment behind brand marketing and Nutritional Solutions capabilities, to drive long term sustainable growth,” the company added.

Glanbia will publish its full Half Year results on August 12.