ABF sees positive outlook for grocery
Annual profits from Associated British Foods grocery arm fell 23% but the Kingsmill and Tip Top firm believes that part of the company will rebound next year.
Associated British Foods finance director John Bason has struck an upbeat tone on the company's prospects in the next 12 months in the UK and Australia, two markets central to the drop in annual profits from its grocery business.
Associated British Foods, the UK-based food and retail group, reported higher annual sales and profits today (6 November) after strong performances from its sugar and discount clothing businesses. However, earnings from its grocery division fell 23%. The view from the City on ABF's grocery unit was mixed.
Annual profits from Associated British Foods' grocery business, which includes Kingsmill bread and Jordans cereal, fell 23%, the UK-based group said today (6 November).
The headlines on the mainstream business pages may have talked about a "sales surge" at Primark and sugar profits may be especially sweet but Associated British Foods' grocery operations have proven a mixed bag in the last 12 months.
- Interview part 1: BRF CFO Augusto Ribeiro
- BRICs: The thinking behind Mondelez's Vietnam deal
- Comment: Why Gardein is Pinnacle's ideal fodder
- Deal or no deal: Should Danone buy Mead Johnson?
- Focus: Can BRF deliver aggressive growth?
- Kellogg trumps Abraaj bid for Bisco Misr
- Raisio buys UK, Ireland and Belgium Benecol ops
- Danone, General Mills, Chobani "mislead parents"
- Wrigley opposes Perfetti Van Melle "WTF" TM
- Dutch confirm second bird flu outbreak
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Dairy Product Production in China
- Energy Bars Market in Canada: Market Profile to 2017
- The Snackification of Breakfast
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report