ABF sees sugar and agriculture revenues fall

ABF
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Associated British Foods (ABF) – which owns brands including Ryvita, Patak’s, Jordans and Silver Spoon – has reported mixed results for the 16 weeks to 3 January, with group revenue at £6.7bn, year-over-year.

The food manufacturer’s retail segment experienced a revenue increase of 4.2% to £3.5bn.

ABF’s grocery sector saw its revenue remain flat year-over-year at £1.4bn, while revenue for ingredients declined by 2.9% to £667m.

The brand’s sugar and agriculture revenue decreased by 4.3% and 4.1%, respectively, driven by a tough consumer environment and difficult trading conditions.


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George Weston, chief executive of ABF, said in the previous estimate statement: “In a challenging consumer environment, our focus is on factors within our control, including initiatives now underway in Europe aimed at improving performance.

“Our food businesses experienced mixed trading in the period, particularly in the US, where consumer demand in certain categories has continued to weaken.

“While we expect the tough trading conditions to continue in the short term, we remain confident in the overall prospects for the Group.”

ABF’s Primark sector saw its sales decline by 2.7% on a year-over-year basis and grow by 1% on a total basis.

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ABF sees sugar and agriculture revenues fall

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Associated British Foods (ABF) – which owns brands including Ryvita, Patak’s, Jordans and Silver Spoon – has reported mixed results for the 16 weeks to 3 January, with group revenue at £6.7bn, year-over-year.

The food manufacturer’s retail segment experienced a revenue increase of 4.2% to £3.5bn.

ABF’s grocery sector saw its revenue remain flat year-over-year at £1.4bn, while revenue for ingredients declined by 2.9% to £667m.

The brand’s sugar and agriculture revenue decreased by 4.3% and 4.1%, respectively, driven by a tough consumer environment and difficult trading conditions.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


George Weston, chief executive of ABF, said in the previous estimate statement: “In a challenging consumer environment, our focus is on factors within our control, including initiatives now underway in Europe aimed at improving performance.

“Our food businesses experienced mixed trading in the period, particularly in the US, where consumer demand in certain categories has continued to weaken.

“While we expect the tough trading conditions to continue in the short term, we remain confident in the overall prospects for the Group.”

ABF’s Primark sector saw its sales decline by 2.7% on a year-over-year basis and grow by 1% on a total basis.

FinanceNews

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