International dairy group Glanbia has reported a ?good?
first-half performance with all of its divisions
performing in line with expectations.
In a trading update for the six months to 28 June,
Glanbia said its consumer foods division had benefited
from margin recovery following raw material cost
increases, although a time lag between market price and
milk price movements would result in weaker margins for
its Irish food ingredients division.
?A good first-half performance and a relatively positive
market environment supports the outlook for the
remainder of the year for Glanbia,? said group MD John
Moloney. ?As a group we are on target to meet current
full-year expectations and look forward to delivering
another year of double-digit growth in 2008.?