The 2019 annual results released by Glanbia on Wednesday are “disappointing”, in the words of the dairy processing group’s chief executive Siobhán Talbot. Yet unlike its two previous quarterly statements, this one did not contain any bad surprises. And a plan is emerging to address the difficulties behind Glanbia’s share price dropping from over €18 one year ago to just €10 at the end of last year. As expected from updates provided through 2019, the year was very different depending on your position within the group. It was poor if you look at Glanbia’s historic performance nutrition business (GPN), whose…

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