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1m tonnes of sugar produced by ABF
Sugar prices are surging and helping Associated British Food (ABF) prove the benefits of its diversified business mode. It produced 1m tonnes of the commodity in the last 12 months.
Assembling two unusual businesses under one roof – budget clothing chain Primark and its specialist foods business – is helping ABF ride the sugar price bull market just as its clothing business starts to struggle.
Groceries, another string to ABF’s bow, are also showing signs of improvement: even in a tougher year for Primark, the business looks well placed to deliver earnings progress in 2017, chairman Charles Sinclair says.