Glanbia reports earnings in line with last year

Dairy group Glanbia has posted first-half earnings in line with last year and said it is purchasing California-based Seltzer Companies for 81.8m Euros as it predicted a return to growth next year.

Profit before tax was 30.2m Euros compared to 30.6m Euros over the same period last year.

John Moloney, group managing director, said the company expects to meet market expectations for the full year and said it was on track to achieve double-digit growth next year.

“In what was a tough first half, the Group accomplished a performance similar to the first half of 2005,” he said.