17th May 2005 11:29
Glanbia PLC17 May 2005 UPDATING STATEMENT - AGM GLANBIA EXPECTS TO MEET EXPECTATIONS FOR FULL YEAR Addressing shareholders at the AGM of Glanbia plc today, Group ManagingDirector, John Moloney, outlined the further significant progress the Group hadmade in 2004 and said Glanbia is now focused on core areas for development inConsumer Foods, Food Ingredients and the evolving Nutritionals business. Mr Moloney said that as anticipated the Group has experienced trading challengesin the first half of the year, principally in Agribusiness and its Irish milkprocessing businesses. He added that as markets currently stand the Groupexpects to meet market expectations for the full year. Chairman, Tom Corcoran added that the Group is on target to complete two majorstrategic international dairy processing investments. Milk powder production hascommenced in Nigeria in the Glanbia joint venture with PZ Cussons plc and themajor cheese and whey processing joint venture in New Mexico is on track tobeing commissioned at the end of the year. ENDS 17 May 2004 Enquiries to: Geraldine Kearney, Group Director of Corporate Communications Tel: 00 353 (0) 56 777 2357 Mobile: 00 353 (0) 87 231 9430 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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