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Primark-owner AB Foods' first-half profit held back by sugar

Associated British Foods on Tuesday reported a 1 percent fall in first-half profit, with a resilient performance at its Primark fashion business offset by a previously flagged reduction in sug… Business

Primark-owner Associated British Foods sees profits jump

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Image copyright PA

Food-to-fashion group Associated British Foods (ABF) has reported a leap in first-half profits, driven by a recovery at its sugar businesses and continued growth at its Primark chain.

Pre-tax profits jumped by 35% to £624m in the 24 weeks to 4 March, with revenues up by 19% to £7.3bn.

ABF said profit growth in the second…