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Nov 3 2022, 07:10 GMT
Glanbia
Reassuring update as ON brand execution continues
DAVY VIEW
Glanbia’s IMS confirms that Glanbia Performance Nutrition’s (GPN) organic growth momentum was sustained through Q3, led by the Optimum Nutrition (ON) brand family. Despite a record year of input cost inflation, FY22 GPN margin is now anticipated to be broadly in-line with FY21 (11.1%), with Q4 margin of c.12%. We expect to lift our FY22 EPS to 98-99c from 95.3c, with FX and GPN margin driving the upgrade.
