Irish food group Glanbia today (19 November) hinted that it was considering future moves to rationalise its business, despite forecasting double-digit earnings growth for the year.
Go deeper with GlobalData
Glanbia said in a trading update yesterday that it is undertaking a “significant” rationalisation programme across its businesses, which has already seen 40 job losses at the company’s milk business.
The cost of the programme, which will be reflected as an exceptional cost in the
current year, is estimated at EUR16m (US$20.20m).
“The nature of the manufacturing business is one of constant reorganisation and review,” a spokesperson for the company told just-food.
“The figure … covers a number of projects already announced – primarily in Ireland, such as in consumer foods, i.e., consolidation of liquid milk processing and also some rationalisation at Glanbia Ingredients Ireland and Agribusiness in Ireland,” the spokesperson said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataHowever, while declining to comment on the specifics of any future cost-cutting moves, the spokesperson added: “This figure allows for a number of other initiatives currently being considered.”
