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Nutrition group Glanbia reported a decline in annual profit as revenue in its performance nutrition business were hurt by volume declines as the pandemic impacted demand.
For the 2020 financial year ended 2 January 2021, pre-tax profit fell to €154.1 million from €199.1 million year-on-year as revenue slipped 1.4% to €3.8 million.
Looking ahead, the company currently expects pandemic related restrictions to ease in key regions during the course of 2021, but said the duration and impact of the pandemic remained volatile.
In FY 2021 Glanbia expects to deliver adjusted earnings per share growth of 6% to 12%, driven by revenue and EBITA growth.
At 9:53am: (LON:GLB) Glanbia PLC share price was 0p at 9.72p