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Nutrition group Glanbia announced a €50 million share buyback programme and a rise in revenue in the nine months through 3 October as trends in its North America performance nutrition business improved 'significantly.'
The share repurchase programme was expected to start in November 2020.
For the nine month trading period ended 3 October 2020, revenue was up 1.0% versus prior year and up 3.1% on a like-for-like basis.
'Operating cash flow has been strong and net debt versus the same period in the prior year has reduced by €188 million. We expect to continue to build momentum into Q4 and to exit the year well positioned for 2021 growth,' the company said.
At 9:08am: (LON:GLB) Glanbia PLC share price was +0.41p at 8.2p