Brief: AB Foods Expects To Take Further Action To Lower Cost Base Going Forward

Associated British Foods

Wed 07:31

July 1 (Reuters) - Associated British Foods PLC ABF.L:
TRADING UPDATE
IN SUGAR, DURATION AND SEVERITY OF MIDDLE EAST CONFLICT HAVE INCREASED GAS PRICE EXPECTATIONS FOR NEXT YEAR
ASIDE FROM SUGAR, OUR FULL YEAR OUTLOOK FOR GROUP IS UNCHANGED.
TO PROCEED WITH DEMERGER OF RETAIL AND FOOD BUSINESSES BEFORE END OF 2027
PRIMARK'S SALES GREW 3% IN Q3
Q3 GROUP REVENUE £5,304 MILLION
Q3 2026 GROCERY REVENUE £1043 MILLION, UP 1% AT CONSTANT CURRENCY
PRIMARK'S LIKE-FOR-LIKE SALES DECLINED 2.2% IN Q3
Q3 2026 SUGAR REVENUE £451 MILLION, DOWN 4% AT CONSTANT CURRENCY
PRIMARK EXPECTED TO DELIVER FY2026 ADJUSTED OPERATING PROFIT MARGIN OF ABOUT 10%
SUGAR EXPECTED TO DELIVER FY2026 ADJUSTED OPERATING LOSS OF £25 MILLION-£60 MILLION
EXPECT TO TAKE FURTHER ACTION TO LOWER OUR COST BASE GOING FORWARD, PARTICULARLY IN EUROPE.

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