Glanbia, the Kilkenny-based food processor, expects to deliver full-year results in line with market expectations. In a recent statement the company said that the good results will be helped in no small way by a significant rationalisation programme which will cost an estimated €16 million and which is currently progressing quite well.
The company also said that its Irish division is trading satisfactorily, while the international division is expected to perform quite well. The world-wide economic downturn which has affected milk product prices internationally has also affected the performance of Food Ingredients Ireland, but this situation is expected to be offset by the Glanbia operations both in the US and the Global nutritionals businesses.
Glanbia also expects that international joint ventures to perform far better then a year ago. The real star performer is southwest cheese in the US. So in spite of all the doom and gloom Glanbia expects to do really well this year.
