Glanbia plc has said its preliminary results for the first half of 2021 show a strong performance that is ahead of expectations.

It said there was a particularly strong demand across both its Glanbia Performance Nutrition and Glanbia Nutritionals ranges.

“Previously, Glanbia guided full-year 2021 adjusted earnings per share (EPS) growth to be in the upper end of 6% to 12% on a constant currency basis versus prior year.

"As a result of the strong performance in first half (H1) 2021, Glanbia has raised its expectations for the year.

"Glanbia now expects to deliver full-year 2021 adjusted EPS growth of 17% to 22% on a constant currency basis versus the prior year,” Glanbia said.

Vigilant

However, it added that the group remained vigilant to the volatile potential of COVID-19.

“The strong first half performance positions the group well to navigate expected cost inflation headwinds in the second half, while also providing the opportunity to increase investment behind brand marketing and nutritional solutions capabilities, to drive long-term sustainable growth,” it said.