By borrowing against its PLC shares instead of selling them at the time of its de-merger from Glanbia in 2022, the farmers’ co-op has made a multi-million-euro gain.
Leprino makes profits in the UK and losses in Portlaoise. The dissipation of hard-Brexit risks means cold financial logic is back in force.
The nutrition group is taking a hit this year, but not as much as previously expected, says Mark Garvey.
Commodity price volatility is nothing new in the dairy industry – nor are overreactions by stock markets. In fact, managing them is exactly what a company like Glanbia should be good at.
Following the demergers of Tirlán and Kerry co-ops from the PLCs they had founded, rural Ireland is full of well-funded, relatively strong farmer-owned businesses ready for a new strategy.
Shares in Glanbia fell sharply today after the Irish food giant said it expected earnings to fall by up to 11 per cent this year. Glanbia’s CFO Mark Garvey talks through the numbers and outlines why it's offloading its SlimFast division.
Once completed, the food giant’s deal for US firm Flavor Producers will be its biggest ever and deepens its focus on its ingredients business. A similar-sized deal for SlimFast six years ago offers a cautionary tale.
For years, Glanbia’s performance trailed behind Kerry’s. The tide is now turning.
The nutrition group’s true performance is to be found deep in its capital efficiency. And this means moving away from dairy processing – except in the US, its boss Siobhán Talbot tells The Currency.
Half-year results from the global nutrition group reveal the effect of its final divestment from domestic milk processing on its bottom line, share buybacks and the resulting value returned through its stock.
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