International cheese and nutritional ingredients group Glanbia expects a good first half performance despite volatility in global dairy markets.

In a trading update, the group said its consumer foods division had recovered the significant raw material cost increases experienced last year, and that its food ingredients and nutritionals business was “having a strong performance in the first half”.

Group managing director John Maloney added: “While there continues to be a level of volatility in global dairy markets and there are still some uncertainties, as would be expected early in the year, we are confident of meeting market expectations for the full year.”