Glanbia reiterates guidance ahead of AGM showdown
Glanbia reiterated its full year guidance for the year, even as sales at its performance nutritionals business dipped in the first three months of the year.
The company, which is facing an activist investor calling for the possible break up of the company, said like-for-like revenue for the first quarter grew 4.5 per cent compared to a year ago.
That came even as sales at its performance nutritionals unit fell 6.6 per cent. Its key Optimum Nutrition brand saw sales fall 3.1 per cent.
£With the first quarter having progressed as planned, and whilst noting the ongoing uncertainty in relation to direct tariffs, we are pleased to reiterate our 2025 full year guidance of adjusted EPS2 in the range of 124 US cent – 130 US cent (-11 per cent to -7 per cent constant currency)," chief executive Hugh Maguire said.
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Glanbia holds its AGM later today. Earlier this week a German activist investor, Clearway Capital wrote to the board of Tirlán Co-operative Society, the nutrition group's largest shareholder, in a bid to enlist support for a campaign for the business to carry out a strategic review after a share price slump.
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