Associated British Foods has announced a rise in turnover to £2.628bn (US$5.02bn) in the 24 weeks ended 5 March 2005, compared with £2.38bn in the same period a year earlier.
Go deeper with GlobalData
Profit before tax was £252m compared with £219m a year ago.
“The period has seen sizeable changes in the group due, in particular, to the major investments made at the end of the last financial year,” said chairman Martin Adamson. “Growth in sales and operating profit has been boosted by these acquisitions and by organic growth in the existing businesses.”
“The acquisitions of the US herbs and spices and consumer yeast businesses and the Capullo oils business in Mexico accounted for a substantial part of the advance in grocery,” he said. “Further progress by the UK bakery business and improvements at ACH, our US oils business, also contributed to this profit growth.”
“The contribution from primary food and agriculture showed little change from the same period last year,” he said. “Despite a good campaign, the profit at British Sugar UK was adversely impacted by an oversupply of sugar in the EU this year, currency and higher energy costs. However, this was more than offset by the benefit of the introduction of the EU sugar regime in Poland, higher volumes in China and an improvement in animal feeds.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“In ingredients, the acquisition of the bakers’ yeast and yeast extract businesses greatly increased its scale and geographical coverage. Although yeast pricing weakened in North America and Turkey, this was partially offset by a strong performance from the operations in South America and Eastern Asia.”
