Glanbia raises full-year profit outlook as GLP-1 users lift demand for protein products
Nutrition supplement maker Glanbia raised its full-year profit forecast after stronger demand for its protein products, including from consumers using them alongside GLP-1 weight-loss drugs. The company said it now expects adjusted earnings per share to grow 17% to 20% at constant currencies this year. Optimum Nutrition posted 25% sales growth in the first half and Glanbia has raised prices twice since November. It also expects whey costs to rise further, according to Reuters.