Company balance sheet

ASSETS	Notes		2008 €'000		2007 €'000
Non-current assets			462,166		456,698
Investments in associates 16   1,395   1,395 Available for sale investments 18   1,290   1,290 Investments in subsidiaries 18   459,481   454,013   462,166   456,698
Current assets			48,340		24,023
Trade and other receivables 19   48,340   24,023   48,340   24,023
Total assets			510,506		480,721
EQUITY
Issued capital and reserves attributable to equity holders of the Company			494,483		477,259
Share capital and share premium 24   452,588   453,718 Retained earnings 26   36,056   18,354 Capital reserve 28   5,839   5,187 Total equity     494,483   477,259
LIABILITIES
Current liabilities			16,023		3,462
Borrowings 31   13,740   1,928 Trade and other payables 36   2,283   1,534
Total liabilities			16,023		3,462
Total equity and liabilities			510,506		480,721

As permitted by section 148(8) of the Companies Act, 1963 and section 7(1A) of the Companies (Amendment Act), 1986 the Parent Company is availing of the exemption from presenting its separate income statement in these financial statements and from filing it with the Registrar of Companies. The profit for the year dealt with in the financial statements of Glanbia plc, amounts to €36,204,000 (2007: (€12,236,000) loss).

On behalf of the Board
L Herlihy
Directors J Moloney G Meagher