AB Foods Issues Interim Management Statement
Associated British Foods plc today issues its third quarter management statement, in accordance with the requirements of the UK Listing Authority's Disclosure and Transparency rules, for the 40 weeks ended 21 June 2008.
Associated British Foods plc today issues its third quarter management statement, in accordance with the requirements of the UK Listing Authority's Disclosure and Transparency rules, for the 40 weeks ended 21 June 2008.
Third quarter highlights:
Year on year increase in revenues for the 40 weeks to June 21 2008:
Sugar 5%, Argiculture 30%, Grocery 22%, Ingredients 18%, Retail 20%, Total Group 19%.
Say's it's agriculture businesses continued the strong performance delivered in the first half. Frontier’s strong position in grain trading and increased demand for farm inputs drove further sales growth and UK animal feeds performed well.
Announces the merger of Ryvita with Jordans the UK breakfast cereal and cereal bar business. ABF will have a 62% interest in the new business. The merger, which is expected to complete before the year end, will create a leading position for the supply of products to meet the increasing consumer demand for natural ingredients and healthy eating. Some cost savings will be achieved and both brands will be developed. The increased scale will enable a greater impact in all sales channels, particularly in convenience and impulse, and faster overseas expansion of the Jordans brand using the group’s international grocery presence.
Associated British Foods plc today issues its third quarter management statement, in accordance with the requirements of the UK Listing Authority's Disclosure and Transparency rules, for the 40 weeks ended 21 June 2008.
Third quarter highlights:
- Group revenue up 19%
- Announcement of proposed merger of Jordans and Ryvita
- Acquisition of KR Castlemaine in Australia
- Primark expansion in Spain
- Trading performance
Year on year increase in revenues for the 40 weeks to June 21 2008:
Sugar 5%, Argiculture 30%, Grocery 22%, Ingredients 18%, Retail 20%, Total Group 19%.
Say's it's agriculture businesses continued the strong performance delivered in the first half. Frontier’s strong position in grain trading and increased demand for farm inputs drove further sales growth and UK animal feeds performed well.
Announces the merger of Ryvita with Jordans the UK breakfast cereal and cereal bar business. ABF will have a 62% interest in the new business. The merger, which is expected to complete before the year end, will create a leading position for the supply of products to meet the increasing consumer demand for natural ingredients and healthy eating. Some cost savings will be achieved and both brands will be developed. The increased scale will enable a greater impact in all sales channels, particularly in convenience and impulse, and faster overseas expansion of the Jordans brand using the group’s international grocery presence.
