Within the firm’s interim administration assertion printed right this moment, Glanbia pointed to quantity development of 1.5pc within the quarter in comparison with the identical interval final 12 months.
Nonetheless, it additionally recorded value declines of 6.9pc on account of modifications in dairy pricing.
The Kilkenny headquartered firm additionally noticed a 1.9pc fall in revenues in its efficiency vitamin division. Costs have been additionally down 3.3pc. whereas volumes grew by 1.4pc.
Glanbia stated pricing was adverse because of deliberate promotions within the first three months of the 12 months.
Its flagship international model, Optimum Vitamin, noticed “robust” quantity development and represents over 60pc of the revenues of this division.
Revenues within the dietary options division declined by 8.8pc within the first quarter, with volumes up 1.7pc. Costs have been additionally down 10.2pc in comparison with the corresponding interval in 2023 on account of falls in dairy pricing.
US cheese income fell by 14.3pc.
Final month, Glanbia acquired US-based Taste Producers from its house owners Aroma Holding Firm for an preliminary consideration of $300m (€281.6m).
The phrases of the deal additionally embody a further deferred fee of as much as $55m, which is dependant on the efficiency of Taste Producers this 12 months.
Taste Producers supplies flavours and extracts to the meals and beverage industries.
The group has additionally confirmed its steering for the 12 months, with adjusted earnings per share anticipated to develop by between 5pc and 8pc this 12 months.
Glanbia has additionally commenced an preliminary €50m share buyback programme, with over 1 million extraordinary shares repurchased between the tip of February and finish of March. The group has spent €29.8m on buybacks to this point this 12 months.
Chief government Hugh McGuire stated that Glanbia’s efficiency was according to expectations and was “pushed by the continued robust international demand for our Higher Vitamin manufacturers and components.”
“In step with our technique to amass complementary companies to develop our Higher Vitamin platforms, we lately accomplished the acquisition of Taste Producers,” he added.
“This acquisition considerably expands our flavours providing and brings new capabilities within the engaging and rising pure and natural flavours market, aligned with long run client developments.”