Mozzarella is so sweet for Glanbia

The cheese maker Glanbia said revenues rose 28 per cent in the 10 months to 31 October despite a recent slowdown in global demand for dairy products.

The Irish-based group, Europe's biggest supplier of mozzarella cheese for pizzas, expects a 20 per cent rise in full-year earnings.

Its chief executive, John Moloney, said: "There are some headwinds and global macroeconomic uncertainty to contend with, but we are confident of a strong full-year outcome." Ireland's food sector has outperformed the broader stock market in recent months.