Glanbia is on course to deliver on its 7%-10% growth forecast for 2017, with revenues for the year to September 6.6% higher than this time last year.

The boss of Glanbia has called for “as long a transition period as possible” following Brexit if current trading conditions between Ireland and the UK cannot be maintained.

Farmers have given a cautious welcome to Glanbia’s plan to sell 60% of its Irish dairy business to Glanbia Co-op, creating a new Glanbia Ireland joint venture in a deal worth €112m.