Glanbia plc (GLB.L), a nutrition company, Wednesday reported profit before taxation of $169.7 million for the first half, lower than $214 million in the same period a year ago.
Excluding items, adjusted profit before taxation increased to $180.9 million from $158.1 million last year.
Operating profit declined to $176.4 million from $214.5 million on decreased revenue.
Adjusted operating profit rose to 187.6 million from $158.6 million last year.
Net profit was $143.3 million or 54.71 cents per share, down from $193.4 million or 70.91 cents per share a year ago.
Adjusted profit increased to $152.5 million or 68.20 cents per share from $136.9 million or 60.78 cents per share last year.
Revenue for the period dropped to $1.816 billion from reported revenue of $2.771 billion and adjusted revenue of 1.836 billion in the previous year.
The Board has recommended an interim dividend of 15.64 euro cents per share, 10 percent up from 14.22 euro cents per share last year, to be paid on October 4 to shareholders of record on August 23.
Looking ahead, the company has reaffirmed its full-year adjusted EPS growth outlook in the range of 5 percent to 8 percent.
Additionally, Glanbia said the remaining 50 million euros share buyback, out of 100 million euros announced in February this year, will commence today.
For comments and feedback: editorial@rttnews.com