The solid annual results posted by Glanbia this Tuesday stem from the group’s ability to navigate past this year’s immediate inflation spike. But the increasingly North American nutrition group has also got better at managing its longer-term move away from dairy processing into high-tech, branded nutrition products. Glanbia’s approach to these tactical and strategic challenges is sketched out in comments by group managing director Siobhán Talbot on a morning investor call and in a follow-up interview with The Currency. “We’re focused on cash, cash conversion, capital allocation, and of course shareholder returns,” Talbot told analysts. This is where 2022 figures…

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