Latest news with #PaulDuffy
Irish Examiner
3 days ago
- Business
- Irish Examiner
Glanbia upgrades full-year outlook on strong performances of dairy and health segments
Irish food giant Glanbia upgraded its full-year guidance for 2025 on the back of strong results for the first half of the year, with revenues rising 6% to $1.93bn (€1.7bn) driven by growth in its Health & Nutrition (H&N) and Dairy Nutrition (DN) divisions. The Kilkenny firm, which separated from the farmer-owned co-op Tirlán to focus on its global business, increased its interim dividend by 10% to 17.20 cent per share and returned €62.8m to shareholders via share buyback programs. Glanbia's Health & Nutrition division, which creates flavourings and ingredients for other companies, saw an 18% revenue increase, driven by a 6.9% rise in volume and a significant 11.5% contribution from acquisition. Glanbia announced the acquisition of Sweetmix, a Brazil-based nutritional solutions business, to facilitate growth in the Latin American market. The Dairy Nutrition segment delivered a 14.1% increase in revenue. This was driven by a combination of volume growth and favourable dairy market pricing. Glanbia CEO Hugh McGuire. However, the company's Performance Nutrition (PN) division faced challenges, with a 3.8% decline in revenue. This was primarily attributed to elevated whey protein costs and anticipated declines in non-core brands. However, Glanbia said there were positive signs of recovery, particularly with the flagship Optimum Nutrition brand, which saw a revenue increase in the second quarter. CEO Hugh McGuire said: 'Today's results reflect a first half of significant execution and progress as we generated 6% revenue growth in the period, underpinned by strong growth in H&N and DN and a sequential improvement in PN through the period as the Group navigated significant macroeconomic volatility.' Glanbia announced the appointment of Paul Duffy as Chair-Designate, who will succeed Donard Gaynor on January 1.
RTÉ News
3 days ago
- Business
- RTÉ News
Glanbia raises full year earnings guidance, names new chairman
Shares in nutrition supplement maker Glanbia jumped 12% in early trade in Dublin today after it increased its full-year earnings outlook and said it was overcoming challenges that pushed its shares to a two-year low in February. Glanbia also said today that its independent non-executive director Paul Duffy will succeed Donard Gaynor as Chair of the Company on January 1, 2026. In its results statement today, Glanbia said it expected full-year earnings per share of $1.30-$1.33 on an adjusted basis, up from its previous forecast of $1.24-$1.30. The firm earned $1.40 per share last year. The US-focused company reported "strong growth" in its Health & Nutrition and Dairy Nutrition businesses and "sequential improvement" in Performance Nutrition. The company is not seeing any consumer weakness in the US and the impact of tariffs is "manageable", its chief financial officer Mark Garvey said after the release of the results. "You never know with today's market when you are, but certainly I feel a lot better than I did three months ago," Mr Garvey said. Glanbia in February issued a profit warning, in part due to a rise in the cost of whey - a key ingredient in the protein powders and shakes popular with gym goers. Whey prices now look likely to moderate next year as more capacity comes on stream, Garvey said. The firm in April reported lower revenue from performance nutrition products in US club retailers and speciality channels, but in the second quarter of the year saw positive volumes and pricing through those channels, Garvey said. "We're going to pass that club channel challenge that we had," Mr Garvey said. Glanbia said that group revenues for the six months to July 5 increased by 6% to $1.93 billion from $1.82 billion the same time last year, mainly down to price increases and the impact of acquisitions. But its group EBITDA, before exceptionals, fell by 7.5% to $241.3m from $261.6m, while its adjusted earnings per share of 63.03 cent was also 7.5% lower on the figure of 68.20 cent reported last year. The company said it was making good progress on its transformation programme, targeting annual savings of at least $50m a year by 2027. It said its board is recommending an interim dividend of 17.20 cent per share, a 10% hike of the interim dividend of 15.64 cent per share last year. Hugh McGuire, Glanbia's chief executive, said the results reflect a first half of significant execution and progress as it generated 6% revenue growth, underpinned by strong growth in the Health & Nutrition and Diary Nutrition divisions and a sequential improvement in its Performance Nutrition division as it navigated "significant macroeconomic volatility". "First half results were driven by volume growth, earnings and margin progression in H&N and DN, reflecting strong customer demand. This was offset by anticipated reduced performance in PN primarily as a result of elevated whey costs during the period," Mr McGuire said. "We delivered strong operating returns and cash conversion and continue to have a disciplined approach to capital allocation, with a 10% increase in the interim dividend and €62.8 million returned to shareholders via share buyback programmes during the period," the CEO said. "We are today upgrading our full year adjusted EPS guidance to 130 to 133 cent as a result of increased revenue momentum in PN and improved margins in H&N. The category trends remain positive, and we expect to see continued improvement in volumes across PN in the second half of the year with continued momentum in H&N and DN," he added, The company today also announced a deal to acquire Sweetmix, a Brazil-based nutritional premix and ingredients solutions business, which it said will facilitate continued growth in the Latin America region. Glanbia names Duffy as new chairman Meanwhile, the company also said today that its independent non-executive director Paul Duffy will succeed Donard Gaynor as Chair next year. Mr Gaynor will retire as Chair and from the Board of the company on December 31. Mr Duffy has been a director of Glanbia since March 2021 and has significant global business experience in the consumer sector. He is a member of the company's nomination & Governance and Remuneration Committees as well as Chair of the Audit Committee. He is a former Chairman and CEO of Pernod Ricard North America and during his 25 year career with Pernod Ricard, Paul held a number of senior leadership positions including serving as Chairman and CEO roles at Pernod Ricard UK, The Absolut Company (Sweden) and Irish Distillers. Paul is a Fellow of Chartered Accountants Ireland and is a graduate of Trinity College Dublin, Ireland. He is a Non-Executive Director of Hostelworld, WA Baxter & Sons and former Chairman of Irish Children's Museum. Breaking down its divisions, Glanbia said that revenues at its Performance Nutrition unit fell by 3.6% to $850m from $882.1, while EBITDA dropped by 30.8% to $108.2m from $156.4m with the decline mainly due to anticipated challenges in the US club and speciality channels and declines in non-core brands. It noted that price increases that were implemented across international markets during the first quarter of the year were offset by some tactical price reductions on specific products globally. Revenues at its Health & Nutrition division rose by 18.4% to $313m from $264.3m and EBITDA jumped by 36.2% to $60.9m from $44.7m the same time last year, driven by a 6.9% increase in volume and an 11.5% increase from the impact of acquisitions. Meanwhile, revenues at its Dairy Nutrition division rose by 14.1% to $763.7m from $669.2m while EBITDA rose by 19.3% to $72.2m from $60.5m on the back of a 4.3% increase in volume and a 9.8% increase in price driven by favourable dairy markets and strong whey protein demand.
Yahoo
22-03-2025
- Politics
- Yahoo
Paul Duffy to be Lib Dem candidate for by-election
The Liberal Democrats have chosen their candidate to contest the upcoming Runcorn and Helsby by-election. Paul Duffy will be hoping to take the seat having previously stood as a candidate for Cheshire Police and Crime Commissioner. He said he was "determined" to stand up for residents on issues such as cost of living, social care and crime. The by-election was triggered following the resignation of Mike Amesbury after he received a suspended prison sentence for assault. Mr Duffy said the by-election was a "really exciting opportunity to provide an alternative to the two main parties and to Reform's media circus". "I'm proud to have been selected as the Liberal Democrat for Runcorn and Helsby and I'm ready to get stuck in delivering for residents," he said. Mr Duffy, who also stood for election in Congleton in the 2019 and 2024 general elections, added: "We have a golden opportunity to champion the issues that matter most to people; the cost of living, social care, and crime. "I've got a proven track record of fighting for residents and I'll continue to fight for the people of Runcorn and Helsby through this election and beyond." No date has yet been set for the by-election but it is likely to be 1 May. Candidates for the Conservatives, Liberal Party, Labour, Greens and Workers Party of Britain have also been announced. Reform has yet to announce its candidate. Read more stories from Cheshire on the BBC and follow BBC North West on X. For more local politics coverage, BBC Politics North West is on BBC One on Sunday at 10:00am and on BBC iPlayer. Runcorn and Helsby by-election - all you need to know
Associated Press
14-03-2025
- Business
- Associated Press
AIML Aligns Leadership for Growth and Shareholder Value Creation
Paul Duffy Appointed Executive Chairman of the Board Seasoned Advisors Mark Orsmond and Michael Nemirow to Support AIML's Corporate Development Initiatives VANCOUVER, BC / ACCESS Newswire / March 14, 2025 / AI/ML Innovations Inc. ('AIML' or the 'Company') (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce key updates to its Board of Directors ('Board') as the Company enters an exciting new phase of growth and commercialization. Paul Duffy, AIML's Chief Executive Officer, and Peter Kendall, AIML's President and Chief Commercialization Officer, have both been appointed to the Board. Mr. Duffy has also assumed the role of Executive Chairman, Simultaneously, Mark Orsmond, outgoing Executive Chair of the Board, and Michael Nemirow have stepped down from the Board and continue their involvement as strategic advisors. These changes reflect AIML's strategic commitment to aligning with the Company's forward-looking focus on commercial execution, market penetration, and strategic partnerships. As AIML continues to advance its innovative portfolio of AI-driven healthcare technologies, this Board realignment ensures the Company is structured to accelerate growth, provide direct industry experience, and drive shareholder value. Paul Duffy, CEO and newly appointed Chairman of the Board, commented: 'We are entering an exciting new chapter at AIML, one defined by focus, execution, and scalable impact. Strengthening our Board with more industry participants to enhance a commercialization lens is a key part of our strategic evolution, and I'm honored to now serve in a governance capacity alongside Peter Kendall. I would like to express my deep gratitude to both Mark and Michael for their dedication, insights, and leadership during a foundational period for the Company. In particular, we are very grateful to Mark for the top-tier medical and professional team that is now part of our Company, and I look forward to continuing to work closely with him in his new advisory role.' As part of this transition, Mark Orsmond and Michael Nemirow will continue to play a pivotal role in the Company's growth trajectory, supporting corporate development initiatives, strategic partnerships, and commercialization strategies. AIML remains steadfast in its mission to deliver breakthrough solutions at the intersection of artificial intelligence and human health. These leadership transitions mark a meaningful step forward in realizing that vision. For more information about AIML: For detailed information please see AIML's website or the Company's filed documents at Contact: Blake Fallis AIML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence: (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through its wholly-owned subsidiaries, Quantum Sciences Ltd. and NeuralCloud Solutions Inc, strategic partnerships with Health Gauge Inc. (95.2% owned by AIML), Tech2Heal (up to 22% ownership rights, with 11.11% currently owned by AIML), AI Rx Inc. (70% owned by AIML), and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company's stakeholders. AIML's shares are traded on the Canadian Securities Exchange under the symbol 'AIML', the OTCQB Venture Market under 'AIMLF', and the Frankfurt Stock Exchange under '42FB'. On behalf of the Board of Directors: Paul Duffy, Chairman Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains 'forward- looking statements' within the meaning of the securities laws. Words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates' and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third- party websites.
