Tuesday, 7 November 2017

Primark owner Associated British Foods sees profits jump and a recovery in its sugar businesses

Associated British Foods (ABF) said its annual profits surged, buoyed by growth at its Primark clothing chain and a recovery in its sugar businesses.

The food-to-fashion group said adjusted operating profit rose 22% to £1.36bn in the year to 16 September, with group revenues up 15% at £15.4bn.

Primark's revenues rose 19% to £7.05bn as the chain continued to expand.

ABF also said it welcomed the government's intention for a Brexit transition period beyond March 2019.

"In common with many other businesses, we share a concern about the risk of abrupt changes to the UK's customs procedures," it said.

BBC     News.