Tuesday July 7, 2020

ABF Foods profit beats estimates as sugar offsets Primark decline

The company said the currency pressures that had held back its performance were starting to ease

19th April, 2016
Primark's flagship store in London Pic: Getty

Associated British Foods reported first-half earnings that beat analyst estimates as improved results from its sugar business offset a decline in profit at its Primark discount retail chain.

Adjusted pretax profit rose four per cent to £466 million (€586 million), the London-based company said, ahead of analysts' forecasts of £454 million. The company reiterated that it expects a marginal decline in adjusted earnings per share for the...

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