UK: ABF sees increase in cash funds, seeks food aquisitions
Associated British Foods, manufacturer of brands such as Silver Spoon sugar and Twinings tea and operator of the Primark discount clothes store chain, has reported a 6% increase in profit before tax to £192m (US$275.8m), before exceptional items, for the 24 weeks ended 2 March 2002. Other half year highlights announced earlier today [Wednesday] included a 13% increase in operating profit to £179m and adjusted earnings per share up 10% to 17p.
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