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Irish Glanbia makes more profit with less turnover
Although the Irish food group Glanbia had less turnover in the first half of this year than in the same period in 2022, it did record a higher profit. The American cheese division also improved its performance, as became clear during the presentation of the half-year figures.
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It was listed on the stock exchange glanbia should not be confused with the former Glanbia Ireland. This cooperative is now called Tirlan. Tirlan still has a 27,64% stake in Glanbia plc, but is otherwise separate from it. Tirlan is also in the cheese, but in Ireland itself and partly with A-ware.
Food group Glanbia achieved a turnover of $2,77 billion and a net profit of $193 million in the first half of this year. In the first half of last year, sales were $3,09 billion and net profit was $140 million. Half of the turnover ($1,36 billion) comes from the American cheese division. It made a gross profit of $23 million, $3,7 million more than in the first half of 2022. The other half of the turnover and the majority of the profit comes from the specialized food activities. The company also owned a number of European cheese activities, but these were sold to the American Leprino Foods. For this it received a sum of €180 million.