Glanbia shares surge 7% as food giant increases prices to offset soaring costs    

Glanbia posted revenues of €2.8bn for the first half of the year, up from €2bn in the same period last year

Siobhán Talbot, group managing director at Glanbia: The 'half year 2022 results have exceeded our plans'.

Shares in Glanbia climbed 7% as investors hailed a better-than-expected half-year outturn as the Irish-owned international food firm boosted earnings, saying cost controls and further price increases will help it weather the global inflation crisis.

Two of the company's major divisions, Glanbia Performance Nutrition, or GPN, and Nutritional Solutions, or NS, posted increases in volume sales in the first six months of the year, but secured hefty increases in terms of pricing of about 14% and 18%, respectively.