Strong profit performances by Associated British Foods’s (ABF’s) grocery and ingredients divisions and Primark will help to offset lower sugar prices and currency factors, predicted the food giant in a trading update today (September 8).
A 40% increase in operating profits for its chocolate and confectionery fats business unit helped AAK to 'record high' results in Q2, while the firm continues its expansion with a deal to buy Turkish oil brand Frita.
The Dutch group reported a rise in operating profit for the first
quarter of 2002 from the fourth quarter last year, an increase of
€27 million to €93 million, although net profit was still 36 per
cent below the same period last year.