With sales of sports nutrition products driving growth at Glanbia (GLB) in the first half, it should come as no surprise that the Irish ingredients group plans to pump €60m (£48m) into its performance nutrition business. The investment will increase Glanbia's capacity to produce high-end whey and lactoferrin - a speciality milk component used in infant formula and supplements - at its Idaho-based facilities in the US.
That's good news, given that the global nutrition division is leaping ahead: first-half sales surged 22 per cent to €375m at constant exchange rates. The growth was volume driven, as demand for sports nutrition rose across all of Glanbia's end markets. And the business is also highly profitable: trading profit jumped 28 per cent to €42.9m.