Associated British Foods (GB:ABF) has released an update.
Associated British Foods plc reported robust growth and profitability in their second half of FY24, propelled by successful store expansions and sales in markets outside the UK, despite weather-related challenges impacting Primark’s UK performance. The company has seen a strong recovery in its Retail margins and expects sustained sales growth and operating profit margin for Primark in FY25, while its Grocery and Ingredients segments are also performing well. However, the Sugar business profitability has been revised downwards due to a dip in European sugar prices, with a recovery anticipated in FY26.
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