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Mar 1 2023, 07:10 GMT
Glanbia’s FY22 result bookends a year of strong execution, reflected in 13.5% constant currency EBITA growth and 86% cash conversion. 2023 guidance calls for constant currency 5-10% EPS growth – we envisage no material change to our FY23 EPS forecast of 111.3c. Glanbia plans to move to USD reporting from January 2023. Portfolio reshaping continues, with the planned disposal of Glanbia Cheese JVs for initial cash proceeds in excess of €160m, which will enhance an already strong balance sheet. A new €50m buyback has also been announced.
Mar 1 2023, 07:10 GMT