Agribusiness & Property

Overview

Agribusiness is engaged primarily in feed milling, grain processing and marketing, and the retailing of a range of farm inputs, to the Group’s large farmer supply base. Its portfolio also includes CountryLife, which is a broader retail offering. Agribusiness is market leader in animal feeds, fertilisers, seed grain, chemicals and veterinary product sales. The business employs over 600 people and operates in 16 counties in Ireland, with a total of 61 locations.

Property

The remit of Property is to review and maximise the value of Glanbia's portfolio of properties, with a particular focus on surplus property.

Outlook

2009 will be an extremely challenging year for farmers across all sectors, with strong negative headwinds including a reduction in farm incomes and the continuing economic downturn. For the longer-term, Agribusiness is positioning itself to be able to service the changing needs of its farmer base whilst recognising the potential created by a growing and diverse rural population.

While the market will undoubtedly continue to be very difficult in 2009, there are a number of transactions planned which should support activity in the coming year. Results for 2009 are expected to be broadly in line with 2008.

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