FDBusiness.com

Sugar and Retail Drive ABF to Record Profits

 Breaking News
  • The Zamora Company Moves into American Whiskey The Zamora Company, a Spanish fifth generation, family-owned global wine and spirits business headquartered in Madrid, has acquired an equity stake in Yellow Rose Distilling, a leading American whiskey distiller in Houston, Texas. The Zamora Company is best known for Licor 43, Spain’s leading liqueur brand, as well as Villa Massa Limoncello and a wide [...]...
  • Dunnes Reclaims Top Spot in Irish Grocery Market The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 5 November 2017, reveal that Dunnes Stores has returned to the top spot for the first time in nine months, capturing a 22.4% share of the market. David Berry, director at Kantar Worldpanel, comments: “Dunnes Stores traditionally posts a strong performance towards [...]...
  • Cornish Kern From the UK Named World Champion Cheese 2017 Cornish Kern, an alpine-style cheese made by the UK’s Lynher Dairies Cheese Company, has been crowned World Champion Cheese at the 30th annual World Cheese Awards, after just a few years in development. This buttery medium-hard cheese, with a deep aroma and caramel notes, rose to the top among 3,000 entries. The 30th anniversary edition of the awards [...]...
  • GNT Group Supports Next Generation of Food Scientists The GNT Young Scientist Award 2017 goes to Caroline Buvé of Katholieke Universiteit Leuven, Belgium. At the 31st EFFoST International Conference, which was held in Sitges, Spain, from 13th to 16th November, she stood out with her research on quantifying colour changes of pasteurized strawberry juices during storage by integrating analytical and acceptability data. Second and third place went [...]...
  • How Conformity Can Deliver Tangible Business Benefits For Packaged Food Manufacturers Manufacturers and brand owners are under immense pressure to repeatedly produce conforming, high quality, safe and well-presented packaged food to meet industry requirements. Increasingly stringent legislation, innovations in packaged product design and evolving customer expectations mean the need for conformity has never been greater. Industry expert Mettler Toledo has published a free, comprehensive white paper ‘Ensuring Conformity [...]...

Sugar and Retail Drive ABF to Record Profits

Sugar and Retail Drive ABF to Record Profits
November 07
12:30 2012

Driven by strong results from its sugar and retail divisions, Associated British Foods has reported a 17% rise in adjusted operating profit to exceed the one billion pound mark for the first time at £1.08 billion on revenue up by 11% to £12.3 billion for the year ended September 15 2012. Profit before tax was level at £761 million.

AB Sugar exceeded last year’s record profit following the investment made in recent years. The business benefited from an excellent UK campaign, a strong European commercial market and better sugar yields across southern Africa. In retail, Primark’s rate of growth increased this year with sales of £3.5 billion, more than double those of five years ago.

However, continued pressure on consumer spending and the high costs for a number of commodities led to lower profitability in both ABF’s grocery and ingredient business segments.

George Weston, chief executive of Associated British Foods, comments: “These are very good results for the group and include exceptional performances from AB Sugar and Primark. Global economic uncertainty remains but we have opportunities for further investment and the strength of the group balance sheet and a strong cash flow will enable us to pursue them with confidence.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements