Global nutrition group Glanbia has updated its full year guidance as it reported higher revenues for the nine months to October 1.

In a trading update, Glanbia said that revenues for the nine months were up 23.1% on a constant currency basis, with pricing increasing by 20.9%, and volumes up 0.8%.

But the company noted that the global macro-economic environment continues to be challenging and said it continues to monitor consumption and inflation trends closely.

Revenues at its Glanbia Performance Nutrition division grew by 13.7% constant currency compared to the same time last year on the back of a 2.2% reduction in volume, favourable pricing of 15.4% and the positive impact of acquisitions of 0.5%.

Revenues at its Glanbia Nutritionals rose by 27.4% on a constant currency basis driven by volume growth of 2.2%, price increases of 23.5% and the positive impact of acquisitions of 1.7%.

Siobhán Talbot, Glanbia's Group Managing Director, said the momentum outlined earlier this year has been sustained through the third quarter.

"Consumption trends continue to be resilient across the performance nutrition and healthy lifestyle brand portfolios in GPN. Revenue growth was primarily driven by pricing actions in response to unprecedented inflation," Ms Talbot said.

"The global macro-economic environment continues to be challenging and we are monitoring consumption and inflation trends closely," the CEO said.

"The strength of our platforms in better nutrition, supported by the combination of pricing actions taken and operational efficiencies achieved, gives us continued confidence that we will deliver strong full year EBITA growth," she said.

"This confidence sees us today updating our full year guidance to 10% to 13% growth in adjusted EPS, constant currency. Based on current foreign exchange rates, our reported adjusted EPS growth is expected to be 26% to 29%," she added.

Shares in the company were lower in Dublin trade today.