News glanbia
Glanbia is off to a good start this year
Glanbia is off to a good start this year and reports strong sales growth in the first quarter. This is due to the improved trading conditions in North America and Asia.
Glanbia's sales increased by 10,5% in the first quarter compared to the same period last year. This is due to good demand for both Glanbia Performance Nutrition and Glanbia Nutritionals.
The company's cash flow has also improved. At the end of the first quarter, net debt stood at €498,5 million, a whopping €191,6 million less than around the same time last year. The decrease is attributed to continued strong cash flow.
Headwinds in European market
The company's strong start was driven by improved trading conditions in North America and Asia. This more than offset the headwinds in European markets due to ongoing corona measures. Also, according to the company, there is strong underlying demand for consumer trends focused on health and wellness.
Glanbia says it is confident for the rest of the year and expects to continue to achieve good sales growth. Siobhán Talbot, Group Managing Director, says he will remain vigilant in the second quarter for continued volatile and uncertain market conditions due to the corona crisis.
Chanti Oussoren
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