International dairy foods and nutritional ingredients group Glanbia has reported “positive” first-half trading, with good growth in revenue, profits and margins.

In a trading update for the six months to 30 June, Glanbia said it expected its first-half earnings per share to increase by around 20%, against a flat first-half performance last year.

Its consumer food and agribusiness and property divisions had performed broadly in line with expectations, while its food ingredients division delivered a strong performance. However, its key international joint ventures in the UK, US and Nigeria had been hit by dramatic increases in raw material prices, Glanbia said.