GLOBAL nutrition group Glanbia has reported a strong performance in the first six months of this year and raised its guidance for growth in full year earnings per share.
Having previously guided growth of 6 per cent to 12 per cent, it says it now expects it to be between 17 and 22 per cent on a constant currency basis.
In a trading update ahead of its half year results, Ireland's leading dairy processor said a strong first half had positioned the group well to navigate expected cost inflation headwinds for the rest of the year.
The group said its wholly-owned revenues were up 20 per cent on a constant currency basis in the first half of the year, compared to 2020, due to strong demand across both its Glanbia Performance Nutrition and Glanbia Nutritionals divisions.
While the group said it remains vigilant to the continued "volatile and disruptive" potential of the Covid-19 pandemic, it said strategic actions have enabled a "strong recovery" in the first half of 2021.
In Northern Ireland, Glanbia operates a major cheese-making operation in Magheralin in Co Armagh, employing more than 150 staff producing mainly pizza cheese for the restaurant, retail and industrial sectors.
Glanbia brands, products and nutrition solutions are enjoyed in more than 100 countries and are recognised for their superior taste and quality.
