Companies

Glanbia raises full-year guidance despite a drop in half-year profits

The performance nutrition giant said it was raising its full-year earnings guidance despite posting weaker profits for the first half of this year due to inflationary headwinds

Siobhán Talbot, group managing director of Glanbia, said the company was confident of passing on inflationary costs in the second half of the year. Picture: Dylan Vaughan

Glanbia plc, the performance nutrition and ingredients company, has raised its full-year earnings guidance despite recording a drop in profits for the first half of this year. The Kilkenny-headquartered company said inflationary costs had reduced profits and profit margins for the first six months of 2022 but said it expected to deliver higher growth in the back end of the year.

Announcing results on Wednesday, Glanbia reported a 27 per cent increase in half year ...