Food group Glanbia said the company delivered a good performance in the first nine months of the year, driven mainly by its Global Performance Nutrition division.

In a trading update, the company said that total group revenue, including joint ventures, rose by 8% in the nine months to October 4 compared to the same time last year.

Glanbia said its outlook for the full year is positive and it has predicted 8% to 10% growth in earnings per share for the full year.

Today's statement said that Glanbia's Dairy Ireland division saw a "satisfactory" performance in the nine month period. While revenues were down 9%, margins were ahead of last year due to rationalisation and efficiency programmes under way.

The Consumer Products division reported an improving performance due to modest revenue growth and improved margins, though the market remains "challenging". 

The company noted that while dairy input costs for the first nine months of the year were above the previous year, input costs have started to decline in line with global dairy prices. 

But it said its Agribusiness division had a "difficult" first nine months of the year  with revenues down as favourable conditions for grass growth resulted in a significant decline in animal feed demand. 

Revenues at Glanbia's Global Performance Nutrition division rose by 14% and reflected strong market growth across its key markets. The division was boosted by the addition of the Isopure business, which was completed earlier this month. 

Glanbia said that revenues at its Global Ingredients division rose by 11% due to higher pricing, which was partly offset by volume declines. 

Glanbia's group managing director Siobhán Talbot said the company was "delighted" with the recent addition of Isopure to its performance nutrition brand portfolio. She said the company continues to invest across the group to support its future growth ambitions. 

"Overall, the outlook for full year 2014 is positive and we maintain our guidance of 8% to 10% growth in adjusted earnings per share on a constant currency basis," the Glanbia boss added.