Glanbia delivers strong results as sales soar by 10.9%
Irish nutritional group Glanbia has delivered a strong performance in the first nine months of the year as revenue in its rapidly growing performance arm continued to surge.
Sales at its Glanbia Performance Nutrition (GPN) division increased by 10.9%, driven largely by strong volume growth across all of the company's regions.
Glanbia snapped up US protein snack firm ThinkThin last December, which also contributed to revenue growth in GPN.
Glanbia said that the new business had "performed well" during the period.
Net debt fell by €18m (£16m) to €626m (£565m) in the three months to the start of October as the company looked to top €100m (£90m) in capital expenditure during the year.
Elsewhere, revenue at Glanbia Nutritionals slipped by 0.8% as lower dairy pricing hit sales in the area.