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AB Foods profit to rise but Primark stalls

first_img whatsapp Show Comments ▼ whatsapp AB Foods profit to rise but Primark stalls John Dunne Tags: NULL Monday 28 February 2011 2:51 am Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Associated British Foods said it expects a rise in half-year operating profits despite a slowdown at its discount fashion retailer Primark and flat profits at its UK sugar operations.The London-based company said Primark’s like-for-like sales will be three per cent ahead while its operating profit margins will be lower reflecting a tax hike in the UK and higher cotton prices, and margins will stay under pressure in the second half.Profits from sugar will be higher driven by rises in Spain and China helping to offset a fall in Illovo and flat profits in the UK, but higher processing will hit UK profits by £20m for the full year.AB Foods was giving an update for its half-year to 5 March and ahead of its full interim results on 27 April. last_img read more