ABF sales up, full-year trading on track

Posted by Josette Dunn on 9th July 2010

Associated British Foods (ABF) said yesterday (8 July) that it remains on track to deliver “good earnings progress” for the full-year.Group revenue from continuing operations for the 40 weeks to 19 June was 14% ahead of the same period last year and in line with the growth reported at the half year, the firm said yesterday (8 June).

The weakness of sterling continued to benefit the translation of sales from continuing businesses, which were 9% ahead at constant currency.

Sugar revenues in the last 16 weeks were 44% ahead of last year thanks to the inclusion of the sale of Azucarera, which was acquired in April 2009.

Grocery revenues for the period increased by 4% over last year.

“Trading for the group since the half-year remains on track to deliver very good progress in earnings for the full year,” ABF said.

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