Irish dairy group Glanbia has posted a full-year loss due to the restructuring of its UK business, which included the closure of its fresh pork operation.

For the year ended January 3, Glanbia reported a loss of 14.9bn euros on turnover which fell 11.9% to 2.32bn euros .

Group managing director, John Moloney said that Glanbia had finalised its three year UK restructuring programme. He added that this had narrowed the company’s focus enabling the advancement of its growth strategy.

As part of this new focus Glanbia announced in February 2004 its decision to enter into a joint venture with Milk Link to service the UK hard cheese sector.

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