Glanbia shares climb 5% as food firm says earnings will rise strongly

On the rise of global raw material prices, Glanbia said it was confident it would 'navigate expected cost inflation headwinds' for the rest of the year

Glanbia remains one of the most valuable Irish-owned multinationals, at a market value of €4.27bn. File Picture: Mark Stedman/RollingNews.ie

Shares in Glanbia climbed 5% to trade at recent highs as the food producer said it will likely deliver higher-than-expected sales through 2021 as global Covid restrictions start to lift.

In a trading update ahead o releasing first-half earnings in August, Glanbia said revenues rose 20% in the first six months of the year.