Glanbia has posted pre-tax profits of €74.4 million before exceptional for 2006, up 8 per cent on the previous year.
Profits in the consumer foods division fell by 10 per cent, mainly due to losses in its cannery operations along with increased marketing spending in the core consumer food product areas.
The agribusiness and property area saw a €6.2 million rise in profits, mostly due to property sales.
Goodbody Stockbrokers said the agribusiness area had a "good year" due to higher volumes and increased market share. Goodbody said the results were in line with forecasts.
Glanbia said it expects to deliver double-digit earnings growth this year.
