Profits up for AB Foods

Food and retail group Associated British Foods has reported a rise is profits thanks, in part, to strong growth at its sugar business.
The company, which sells Silver Spoon sugar and Twining tea as well as running fashion retail outlet Primark, says it expects growth in sales and adjusted operating profit in the coming year, with the profit improvement weighted towards its second half.
Its sugar business saw profit up 31 per cent to £315 million (€367m), helped by high world sugar prices and driven by strong performance in Spain and China, tempered only by severe UK winter weather which hit output.