In an interim management trading statement ahead of its AGM in Kilkenny today, Glanbia said its first quarter performance had been in line with expectations.
Revenue declined by 8.8% in the Glanbia Nutritionals division, which was driven by a 1.7% increase in volume, a 10.2% decrease in price, and a decrease of 0.3% driven by the net impact of acquisitions and disposals. Glanbia completed its acquisition of US firm Flavor Producers for an initial consideration of $300m, with an additional potential deferred payment of up to $55m conditional on performance, in April.
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