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Nutrition group Glanbia said it expected earnings growth toward the top end of its guidance range owing to 'good' demand across its performance nutrition and nutritionals businesses in Q3.
'The strong third quarter gives us confidence for the remainder of the year and we expect FY 21 adjusted EPS growth to be at the upper end of the previously guided range of 17% to 22%, on a constant currency basis,' the company said.
For the nine month period ended 2 October 2021, revenue rose 15.7% rise in third-quarter year-to-date revenue from a year earlier.
'As we exit 2021 we will maintain our focus on driving top line growth and are planning further pricing actions for early in 2022 in response to the continued inflationary environment,' it added.
In separate statement, the company said it had signed a non-binding memorandum of understanding for 40% stake in Glanbia Ireland to Glanbia Co-op for €307 million.
'The Co-op is the right owner to continue the strategic development of Glanbia Ireland for the benefit of the Co-op's members, and the PLC can continue to maximise the opportunities for its own business in the post-Covid environment, with our focus on health, wellbeing and nutrition,' the company said.