Ireland's Glanbia's first half revenues grow over 10%

International dairy food company Glanbia on Wednesday said its group revenue increased by 10.7 percent to about 1.8 billion euros (2.3 billion U.S. dollars) in the first half of 2014.
In its interim report, the Ireland-based company said earnings per share, a key measure of growth, grew by 11.5 percent to around 32.5 euro cents.
It said pre-tax profits for the half year rose to 101.5 million euros from 95 million euros compared to the same time last year.
The company said its global performance nutrition division, which makes food supplements and exercise nutrition, was "the key contributor delivering strong branded revenue growth, through effective execution in core channels and continued international growth."
It announced a 60-million-euros strategic investment program in its global ingredients, aimed at maximizing the value of its whey pool and further strengthening its position as a leader in value-added dairy ingredients.
"The outlook for the remainder of the year is positive and we expect to achieve our guidance of 8 percent to 10 percent growth in adjusted earnings per share on a constant currency basis for 2014," said Glanbia's group managing director Siobhan Talbot. (1 euro = 1.33 dollars)