Global nutrition group Glanbia has reiterated its full year guidance of 8-10% growth in earnings per share, pushing its shares to close 7.2% higher in Dublin trade.
In the nine months to October, Glanbia said its total group revenue was down very marginally on a reported basis.
However when currency changes are stripped out, it was up very slightly on the same time last year.
In today's interim management statement, the company's group Managing Director Siobhán Talbot said the outlook for the rest of 2016 is positive.
Glanbia said its Dairy Ireland division saw a "satisfactory" performance in the first nine months of the year.
Revenue was down 3.3% on the back of a price decline of 5.3% due to reduce input prices. However this was offset by a volume increase of 1.7% and a small bolt-on acquisition.
In today's trading update, Glanbia said its Performance Nutrition business saw revenues grow by 10.9% with growth across all regions. It noted that its thinkThin acquisition - bought in December 2015 - performed well.
Glanbia said the competitive landscape in the US was challenging - as expected - and it expects full year like-for-like branded revenue growth in the low-single digits with strong volume growth offset by brand investment.
Meanwhile, the group's Nutritionals business also delivered a "satisfactory" performance in the first nine months of the year, with a good third quarter.
Revenues fell by 0.8% as volume growth of 3.9% was offset by a decline of 4.7% due to lower dairy market pricing.
