Dublin, March 4 - Irish food group Glanbia posted an 18.5 percent rise in full-year earnings and said 2009 would be tough, with profit growth in a low to mid single digit range.
Adjusted earnings per share (EPS) for 2008 came in at 35.86 euro cents versus 30.25 cents a year ago, while basic EPS rose by 31 percent to 26.76 cents, Glanbia said on Wednesday.
That compared with a average forecast for EPS before exceptional items of 35.4 cents from five analysts polled by Reuters Estimates.
"Glanbia is continuing to maximise organic growth opportunities and aggressively manage costs to sustain the business through the current challenging environment," Group Managing Director John Moloney said.