Associated British Foods plc (ABF.L,ASBFY.PK), in its pre close trading update, said the Group's second-half adjusted operating profit would be substantially ahead of the prior year, in line with expectations. The income statement would include a non-cash charge of about 100 million pounds for the impairment of property, plant and equipment at the meat factory in Australia. This exceptional charge would be excluded from adjusted earnings calculation.
The company said both adjusted operating profit and adjusted earnings per share for the full year would be substantially ahead of last year, as indicated earlier. Investment in new stores for Primark increased in the second half and would be ahead of prior year for the year as a whole.
Sugar revenues in the second half have been well ahead of last year, reflecting the strong commercial environment in Europe and to a lesser degree Africa. In China, prices continued to fall since the half year and revenues would be lower as a result.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.