Nutrition supplement maker Glanbia hiked its full-year profit forecast on Thursday following bumper demand for its protein products, including from customers using them in tandem with weight-loss drugs.
Glanbia now sees higher-than-expected revenue growth across all three of its nutrition divisions, led by its main Optimum Nutrition brand, where first-half sales rose 25 per cent even as it hiked the price of products twice since November.
Protein powders and shakes, traditionally popular with gym goers, have become more visible on supermarket shelves and are among the products consumed by GLP-1 weight-loss drug users advised to add to their protein intake.
"It's difficult to correlate exactly but certainly the increase in demand for protein in whatever format has been driven in some way by the significant increase in GLP-1 usage," Glanbia finance chief Mark Garvey said.
