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Glanbia profit misses consensus by 29.4% in fiscal H1

Glanbia PLC said its normalized net income for the fiscal first half ended July 4 amounted to 25 euro cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed 20.0% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €75.8 million, a gain of 20.4% from €62.9 million in the prior-year period.

Total revenue rose 10.6% year over year to €1.43 billion from €1.29 billion, and total operating expenses increased 9.6% on an annual basis to €1.31 billion from €1.20 billion.

Reported net income grew 18.0% year over year to €98.7 million, or 33 cents per share, from €83.6 million, or 28 cents per share.