Glanbia said it is on track for a "very strong" first-half performance underpinned by a return to profitability of its Irish dairy ingredients business.
In a trading statement today, the company said the business has benefited from a sustained improvement in global dairy markets throughout the first six months of 2010.
But it said consumer products business had a "very tough" first half year due to higher milk costs and the effects of price reductions implemented at wholesale level in the second half of 2009.
The group said "positive market trends" underpinned a good first half for the group's US cheese and nutritionals businesses. "Demand for US cheese remains robust and markets were higher relative to 2009," it said.
The company said its international joint ventures in the US, UK and Nigeria also had strong first half performances.
Glanbia said it was trading in line with expectations and would announce its half-year results in late August.
