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Apr 24 2019, 07:10 IST/BST
Glanbia’s Q1 update reflects a strong performance in Nutritional Solutions (NS), offset by a double-digit decline in Global Performance Nutrition (GPN) – its first quarterly fall since Q1 2017. The decline reflects the strong Q4 sell-in and supply chain configurations in certain non-US markets. Organic growth in GPN for 2019 is expected to be positive, driven by both volume and price. Glanbia has reiterated guidance for 5-8% constant currency growth in adjusted EPS for 2019. We expect profit delivery to be H2-weighted (GPN-related) and envisage no material changes to our FY 2019E EPS forecast.
Apr 24 2019, 07:10 IST/BST