26 April 1996

ABF profits rise

INCREASED profits at British Sugar helped food conglomerate, Associated British Foods to an improved first half performance, according to interim results published this week.

In the six months to Mar 2, British Sugar increased sales turnover 2% to £419m and lifted profits 4% to £87m. The subsidiary benefited from strong world demand for sugar, further devaluations of the green pound and a number of operating efficiencies.

Overall, ABF boosted worldwide sales by 19% to £2.68bn, achieving a similar rise in operating profit to £181m.