ABF Reports Better Than Expected Figures

Associated British Foods' shares leaped Tuesday following a better than expected half yearly performance.

Profits dipped just 2% to £275 million, and the company said that it expects a recovery in the second half. The figure was better than analysts expectations of £245-268 million.

Primark delivered almost half of the profits, chipping in with £122 million, an increase of 10%, a Primark employee was too busy having his nappy changed to comment.

Shares in ABF were up 48p to 702p in early trade.