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Any News yet about how the voting went. ?
Looks like this SP continues to go in one direction only - up
Commenting today, John Moloney, Group Managing Director said: "The Group continues to perform well driven by positive overall trends in Global Nutritionals and results broadly in line with expectations elsewhere in the business. We are confident that full year results will be at the upper end of guidance, representing circa 10% growth in adjusted earnings per share on a constant currency basis. 2012 is expected to build on the excellent performance of Glanbia in the last two years and reflects both our successful international growth strategy and strong operational execution across the Group.
Financing Glanbia's net debt as at 29 September 2012 was €585 million with rolling 12 month adjusted EBITDA to net debt at 2.2 times (HY 2012: 2.3 times). The Group's committed debt facilities total €824.9 million, and comprise of €320.0 million bank facilities maturing in July 2013, €190.0 million bank facilities maturing in January 2018, €63.5 million cumulative redeemable preference shares maturing in July 2014 and a US$325 million (€251.4 million) private debt placement maturing in June 2021. Discussions regarding the extension of the maturity date of the €320.0 million bank facilities from July 2013 to January 2018 are expected to be concluded shortly.
FULL YEAR RESULTS EXPECTED TO BE AT THE UPPER END OF GUIDANCE YES RECOMMENDED BY GLANBIA BOARD TO IRISH DAIRY PROCESSING JOINT VENTURE VOTES IN NOVEMBER 7 November 2012 - Glanbia plc ('Glanbia'), the global nutritional solutions and cheese group, is issuing this Interim Management Statement in accordance with the reporting requirements of the EU Transparency Directive, for the nine month period to 29 September, 2012. Market commentary In the first half, milk supply outpaced good demand from emerging markets and global dairy market prices declined to the middle of the year, compared with strong prices in 2011. Growing concerns about the US drought and its impact on milk production that emerged in the third quarter reversed this price decline in recent weeks. For the remainder of the year, greater price stability is expected in a balanced market with good supply and demand characteristics and the outlook is broadly positive to year end.
Glanbia Sell 30-Aug-12 € 457,373.71 John J. Moloney 72,599 @ € 6.30 Glanbia Sell 30-Aug-12 € 262,445.41 Kevin Toland 41,658 @ € 6.30 Glanbia Sell 30-Aug-12 € 180,375.31 Siobhan Talbot 28,631 @ € 6.30 Glanbia Sell 30-Aug-12 € 77,307.30 Michael Horan 12,271 @ € 6.30
Glanbia, a nutritional solutions and cheese maker, has announced plans to enter a joint venture to incorporate the business and assets of Dairy Ingredients Ireland. The business is the largest dairy ingredients processor in Ireland, assembling a milk pool of 1.6bn litres and processing it into around 180,000 tonnes of ingredients, largely for export. The group also reported first half results on Wednesday showing pre-tax profits up 24% on the prior year. Glanbia's shares were up 4% at 11:28.
Commenting today, John Moloney, Group Managing Director of Glanbia plc said: "The proposed joint venture offers a compelling proposition for all stakeholders for the longer-term as it facilitates the desired expansion of dairy processing by Society members and allows Glanbia to continue to focus on its successful international growth strategy. The abolition of EU milk quotas in 2015 will initiate a new era for milk production and offers increased prospects for the Irish dairy industry through a clear opportunity to expand milk supply. Glanbia already has a number of successful international dairy joint venture operations in the UK, USA and Nigeria."
NEW IRISH DAIRY PROCESSING JOINT VENTURE PROPOSED WITH GLANBIA CO-OPERATIVE SOCIETY LIMITED GLANBIA CO-OPERATIVE SOCIETY LIMITED PROPOSES TO REDUCE SHAREHOLDING IN GLANBIA PLC TO 41.4% 29 August, 2012 - Glanbia plc ("Glanbia"), the global nutritional solutions and cheese group, today announces that a non-binding Memorandum of Understanding has been signed with its majority shareholder, Glanbia Co-operative Society Limited (the "Society"), subject to contract and approvals, to enter into a 40% (Glanbia): 60% (Society) joint venture in respect of Dairy Ingredients Ireland. Separately, but related to the joint venture, the Society has today announced that it intends to seek Society member approval to reduce its shareholding in Glanbia to 41.4%.
http://www.investegate.co.uk/Article.aspx?id=201208290700209429K
Hi folks, Anybody on this board?! I recently commenced The Great Irish Share Valuation Project on my Wexboy blog. I'm setting a Fair Value Price Target for every listed Irish company. So far I've valued 2 dozen companies, including Glanbia. I hope you'll take a look (don't hesitate to comment or email me), and perhaps become a regular reader. Cheers, Wexboy
John Moloney, Group Managing Director, said: "Glanbia had an excellent year with results ahead of expectations. The Group benefited from strong organic revenue growth in our three nutritionals' businesses, a return to profitability in Dairy Ingredients Ireland and the delivery of our strategic cost reduction programmes in Ireland. We delivered strong revenue and earnings growth and our 2010 performance reflects the strength and diversity of our businesses. The Group is well positioned for 2011. Our current expectation is that the trading environment for 2011 will be broadly positive. Global dairy markets are expected to remain firm, underpinned by robust demand, particularly from Asia, and demand-led growth in key nutritionals sectors. In January we acquired BSNâ, a leading US sports nutrition business which is an excellent strategic fit with our Performance Nutrition business. For 2011, given our strong market positions and growing portfolio, we are forecasting 11% to 13% growth in adjusted earnings per share, on a constant currency basis."
The chart and the continued excellent performance indicated in the full year results say it all !
2010 full year results summary · Improved global dairy markets and good demand in key nutritional markets underpinned an excellent year; · Dairy Ingredients Ireland returned to profitability, after a first time loss in 2009; · Strategic cost management programmes in Ireland delivered targeted annualised savings; · Organic revenue growth in Global Nutritionals significantly outpaced market growth rates; · Revenue increased 18.4%; up 15.6% on a constant currency basis; · EBITA margin up 20 basis points to 7.0%, up 40 basis points to 7.2% on a constant currency basis; · Operating profit grew 22.8%; up 22.8% on a constant currency basis; · Operating margin improved 20 basis points to 6.3%; up 40 basis points to 6.5% on a constant currency basis; · Adjusted earnings per share increased 24.1% to 38.07 cents and · Dividend increased by 10% to 7.52 cents per share.
The Farmer Co-operative buyout of their section of Glanbia was rejected by a narrow margin . Anyone have an opinion on what happens Glanbia's share price tomorrow ? A shorting candidate for tomorrow maybe ?
Is this drop linked to the Mozzarella contamination?