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.
Associated British Foods (ABF) has reported strong growth in its sugar and ingredients divisions for the first half of the financial year but the group’s profits have fallen.
Greencore’s ingredients division helped the Irish firm achieve reasonable results, as the convenience foods division was hit by a cost concealment issue in its mineral water accounting.
DSM's full year nutriton results show investment in
innovation is rewarded with strong market position, but rising
costs, high expenditure and damaging exchange rates compromised
profits.
Troubled catering firm Compass Group today announced a five per
cent drop in first-half operating profit, amid allegations the
company bribed UN officials for war contracts.
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.
