Glanbia Share Discussion Threads

[hypocrite] 09/7/2003 23:56

Glanbia planning USD170m facility in US

Wednesday, 9th July 2003 11.44am



Glanbia is planning to build a USD170m cheese and whey facility in the US in a joint venture with two dairy co-operatives.

The dairy and consumer foods business said today that it is in advanced negotiations with Dairy Farmers of America (DFA) and Select Milk Producers about building the facility, which will be 50pc owned by Glanbia.

Glanbia and DFA/Select will each invest USD35m in the facility, with the remaining USD100m directly financed by the joint venture entity.

Managing director John Moloney said the facility will position the firm as the number one producer of American type cheddar cheese in the US.

Once fully operational, it is anticipated that the new facility will generate sales in the region of USD340m per annum and will employ approximately 200 staff. It will annually process over one billion litres of milk and produce 115,000 tonnes of cheese and 7,500 tonnes of high value added whey proteins.

Glanbia expects that the plant, which should be commissioned in 2005, could become the largest advanced whey processing facility in the Northern Hemisphere.


More breaking news >

[cockneyrebel] 09/7/2003 10:08

Looks like a very interesting statement just out, considering Proqotes have these on a PE of 6.7, 4% yield and the company has said at the AGM trading in line.

Can anyone point me to a good source of info on this company?

Cheers

CR

[hypocrite] 11/5/2003 14:45

Anyone here know the date of the egm????

[hypocrite] 23/4/2003 06:56

AGM voting to repurchase 10% of all outstanding shares.
Excellent news!!!!

[hypocrite] 22/4/2003 06:49

Glanbia tips cheese revenue to jump 30pc

Friday, 18th April 2003 09.21am



Food group Glanbia has tipped revenues from its pizza cheese division to jump at least 30pc this year, following the launch of a new E17m upgrading programme.

The company said that the introduction of new technology at its plant in Magheralin, Co Armagh, would consolidate its position as Europe's leading supplier of pizza cheese and predicted a 30pc increase on sales of E100m.

Signalling the health of the market, a spokesman for Glanbia said that even with the extra capacity, it would be unable to keep pace with demand, which is forecast to grow at 4pc over the next year.

Glanbia recently said it planned to spend up to E100m on acquisitions in the nutritional market in the short term. Revenue from nutritional products climbed 17pc last year as consumer demand for healthy convenience food soared.

[hypocrite] 10/4/2003 23:03

My banker for 2003.
Today the Daily Express saw the light and reported that Glanbia will
easily meet it's forecast for this year......

[hypocrite] 07/4/2003 23:18

Kerry Group to raise E500 million US?

Monday, 7th April 2003 08.00am



Kerry Group to close to finalising a private bond placement worth up to E500m, according to a weekend report.

The Sunday Tribune said the food and ingredients company has hired Royal Bank of Scotland to undertake the offering to private investors.

The company could use the funds to refinance some of its debt but it is expected that the money will be spent on more acquisitions.

Last week, Kerry Group spent USD67m on two US firms, taking its acquisition expenditure in its ingredients division this year to USD135m.

Although the sum involved could be as high as 500m euro, it says RBS is seeking to tap a minimum of USD275m.

Kerry has declined to comment on the report.

In a separate development, AIB is said to be seeking E450m from investors to put into high yield leveraged loan funds managed by it.

A source in the bank told the Sunday Business Post that this will be the third such loan fund the bank has raised in the past five years. The latest venture will make it the biggest European-owned bank manager of high yield leveraged loans. The funds are focused on the financing of management buyouts and other leveraged acquisitions.


More breaking news >

[hypocrite] 05/3/2003 08:09

Glanbia 2002 profit up 7.8pc to E71.81m

Wednesday, 5th March 2003 07.57am



Food group Glanbia today reported pre-tax profit of E71.81m for the 12 months ended 4 January, 2003, an increase of 7.8pc on the year. Group turnover declined 11.8pc to E2.316bn and operating profit was down 1.8pc at E91.54m. Glanbia's operating margin was up at 3.9pc from 3.6pc.

Adjusted earnings per share (EPS) came in at 17.44c, up 10pc. Glanbia also took an exceptional charge of E79.92m associated with refocusing group strategy.

Commenting on the results, group managing director, John Moloney said,

"Continued profit growth in our consumer foods and nutritional ingredients activities boosted operating margins. Our financial position also improved significantly. Glanbia is better focused following restructuring and a progressive exit from non-core businesses."

"Our 2003 priority is on delivering growth in particular in cheese, nutritional ingredients and in consumer foods with a nutritional emphasis. The board believes that Glanbia will continue to make good progress in 2003," he added

[jackrussel] 20/8/2002 18:20

Redarmy,

I agree with your general comments re food processors, plus everybody must eat even if the stock market collapses.
Chart looks good, once it breaks the psychological 100 barrier.
Initial target 170 from inverted Head and Shoulders since 1999.

ISA/PEP buyers note this is 1% stamp duty as it is an Irish company.

[red army] 20/8/2002 17:29

Ok. today has prompted me to say something as this has been on my watchlist for some time.There are a number of reasons to buy.

Food producers are holding up reasonably well and may escape the eventual sell off.

The share price is not likely to fall substantially due to the market valuation.

Interim results due out on the 5th September.

Current debt is reducing nicely.

Estimated NPBT for the year is £72mill

Current P/E based on the above is approx 4

Management now focussing on their core strengths


All in all, worth considering - particularly leading up to the interims.

DYOR

[hypocrite] 20/8/2002 14:10

Debt should be down to 100mil,
translated into better milk performance,
and ingredients flying(stick to Kerry Foods for comparatives)
#1.50 is probable, and #3 over the next year!!!

[yogi] 28/11/2001 13:54

And so it continues. Technically this is in a strong position as it has come through resistance around 80-85p. Next level seems to be ~ 95p after which it could increase quite a bit. Not really a trading share as too illiquid but throughout the events of the last 3 months this has been very steady riser and long may it continue:)

[yogi] 27/11/2001 19:02

Steady as she goes - no roller coasters here:)

[yogi] 23/11/2001 21:52

Having talked in the last few weeks to my Uncle who is close to the company, the informed opinion is that they are expecting a good year this year and there is a belief internally that they have now turned the corner. All very wishy washy in pure financial terms but they seem to have now got the business onto a good footing post the merger between Avonmore and Kerry Group. Non core activities have been disposed of and there seems to be a good diversity of core products in a wide range of markets.

Interesting trades in the last few days also and I've seen worst graphs.

All IMHO DYOR etc.........

[babolat] 23/11/2001 15:11

Tipped by Alpesh Patel on Bloomberg, on Wednesday night.

[yogi] 22/10/2001 08:43

Although not showing I've increased my holding by 5000 earlier this morning. I assume that as it was over NMS that it will be added as and when the MM's feel like it. Although no news from the inlaws yet I bought based on braeking old resistance around 80p with next target being close to £1.00. Furthermore, they have been resilient in the recent market turbulence and as S. Sid says with forward prices for milk showing down and continued strong trading signals given during the trading statement in September I hope these are a good value buy.

Yogi.

[sensible sid] 19/10/2001 13:10

yogi

The forward selling price for milk is apparently well down for the next six months. I guess the producers will just feed this through to their suppliers.
I am looking forward to what your uncle has to say also.

cheers
S