AB Foods posts 13% sales rise

Primark owner Associated British Foods has revealed that third quarter sales rose 13% amid expectations of very strong growth in annual earnings.
“Trading for the group since the half year remains on track to deliver very good progress in earnings for the full year,” the company said in a statement.
The company, which markets Silver Spoon sugar, Mazola vegetable oil, Ovaltine drinks and Twining teas, has benefited from a strong recovery at its sugar and grocery businesses after heavy investment and a pick-up in demand, while Primark’s growth continues to outperform its high street rivals.

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