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Associated British Foods ( (GB:ABF) ) has provided an update.
Associated British Foods reported mixed results in its latest trading update, with overall group revenue slightly up by 0.5% at constant currency despite a 2.2% decline in actual currency. Primark’s sales rose by 2% due to growth in key markets like Spain, Portugal, France, and the US, although sales fell in the UK and Ireland due to a challenging retail environment. The grocery segment saw a modest 1% revenue growth, driven by brands like Twinings and Ovaltine. Ingredients experienced a 4% increase, while sugar and agriculture saw revenue declines of 2% and 4% respectively. Despite challenges, the company remains optimistic about Primark’s growth potential and expects stable profit margins.
More about Associated British Foods
Associated British Foods is a diversified international group operating in various sectors including retail, grocery, ingredients, sugar, and agriculture. Its primary retail brand, Primark, focuses on affordable fashion and operates in multiple markets across Europe and the US.
YTD Price Performance: -4.60%
Average Trading Volume: 1,257,701
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £14.11B
Find detailed analytics on ABF stock on TipRanks’ Stock Analysis page.
