ABF Delivers Profit Growth As Sugar Division Rebounds

UK food and retail conglomerate Associated British Food (ABF) has announced a 4% rise in annual pre-tax profits for the year to September 12 2009. ABF's results were boosted by the strong performance of its sugar business and were also buoyed by the strong performance of Primark, the firm's discount fashion outlet. However, profits at ABF's groceries business, which incorporates brands such as Kingsmill and Twinings, stagnated with the firm attributing the lacklustre performance to first half problems at its US edible oil division, ACH, and a highly competitive UK retail market for its Silver Spoon sugar brand.

To read the full article, please choose one of the following options: