Sign up to The Irish Times Archive (1859 - 2008)My Account »

Thu 03 Mar 2007Food giant hungry for overseas growthGlanbia is looking beyond a tightening Irish market for growth. In 2006, it increased pretax profits by 8 per cent to €74.4 million and chairman Michael Walsh told reporters yesterday that 40 per cent of profits come from its international business.Echoing this, managing director John Moloney pinpointed overseas operations as the means by which the group plans to push margins "north of 5 per cent by 2008". Those margins stood at 4.6 per cent last year.