Glanbia reports a good Q1 with revenues up 17.0%

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Glanbia reports a good Q1 with revenues up 17.0%

Glanbia reports a good Q1 with revenues up 17.0%
April 22
12:52 2020
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Glanbia reported a raise of 17.0% in revenues in Q1 2020 versus prior year due to good demand across both Glanbia Performance Nutrition and Glanbia Nutritionals;

Overall demand in our key end markets was positive in the first quarter, however greater volatility in consumer shopping behaviour was evident in recent weeks arising from Covid-19 and due to uncertainty of duration and impact of this pandemic, full year 2020 financial guidance is withdrawn.” comments Siobhán Talbot, Group Managing Director

The Covid-19 pandemic is a human tragedy and our priorities are to protect our people, provide essential food supplies and maintain our strong financial position. Our nutritious products and ingredients are essential for our consumers and to date all of our plants have largely operated to plan and maintained supply. I would like to express my deep thanks to our employees, customers and suppliers around the world, in particular to our frontline staff and their families who continue to give enormous commitment to keep our supply chain and operations running. As an essential service, the food industry has a critical role to play and we are very focused on continuing to serve our consumers, customers and communities through this global crisis.” she added.

In response to the Covid-19 pandemic the Group put in place business continuity planning teams with three priorities: protect the health and safety of employees, continue supply of food and maintain the Group’s strong financial position.

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