Glanbia looks to protein for growth

Glanbia said the popularity of health and sports nutrition products such as whey protein powder will fuel growth in the coming months, as its global cheese production helped raise its revenues almost 10% to over €2bn in its first half results.

The nutritional giant said total revenue in the first half of 2017 was over €2.04bn, compared with over €1.83bn a year earlier. That represents an increase of 9.9% in the year after taking account of currency changes. Earnings before interest, taxes and amortisation were €192m, up almost 7%.

The sale of 60% of Dairy Ireland to Glanbia Co-Op to create Glanbia Ireland is now complete, it said.