Goodbody Stockbrokers is advising investors to hold on to Glanbia shares saying that, while the outbreak of foot-andmouth disease in the UK could have some cost implications for the group, the overall impact will be small. It points out that Glanbia's results were better than expected, due to a particularly strong performance in the food divisions in the second half of 2000.

The prospect for this year is for further progress. Goodbody suggests that Glanbia now looks like an extremely cheap stock but cautions that this is in a market where UK food stocks have very low ratings.

It forecasts that, by year end, Glanbia's share price will end at 75 cents, offering some hope that investors will see significant gains in the coming months.