February 21, 2018 / 9:52 AM / 3 months ago

BRIEF-Glanbia says possible H1 earnings lower y/y

Feb 21 (Reuters) - Glanbia Plc:

* GLANBIA CEO SAYS NO CHANGE TO LONG-TERM GROWTH GUIDANCE; LONG TERM GROWTH AMBITIONS ‘VERY STRONG’

* GLANBIA CEO SAYS FOCUSING ON VOLUME FOR 2018, VERY COMFORTABLE WITH GROWTH GUIDANCE

* GLANBIA CEO SAYS INPUT COST SAVINGS IN PERFORMANCE NUTRITIONAL WILL ONLY COME IN H2, BUT GLANBIA WILL INVEST FOR GROWTH IN H1 TO ENSURE MOMENTUM

* GLANBIA CEO SAYS ASKED IF H1 PROFITS MAY BE LOWER IN FY 18 THAN FY 17 , SAYS ‘GIVEN THE JOINT VENTURE PERFORMANCE IT’S NOT BEYOND POSSIBILITY THAT THAT WOULD BE THE CASE’

* GLANBIA CEO SAYS AMBITION IS TO CONTINUE TO ACQUIRE AND BALANCE SHEET IS STRONG; PRIORITY FOCUS IS NUTRITIONALS, PERFORMANCE NUTRITION

* GLANBIA CEO SAYS DIRECTIONAL TREND ON WHEY PRICES IN 2018 IS DOWN; STRUCTURAL POSITIVE FOR PERFORMANCE NUTRITION BUSINESS IN 18

* GLANBIA CEO SAYS PRICING DEPENDS ON BEHAVIOR OF COMPETITORS; HAS NO DESIRE TO RACE TO THE BOTTOM ON PRICING Source text for Eikon: Further company coverage: (Reporting By Conor Humphries)

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