Associated British Foods Plc (ABF.L, ASBFY.PK) provided its third quarter management statement.
The company noted that Group revenue from continuing operations for the 40 weeks to June 23, 2012 was 11% ahead of prior year and in line with the growth reported at the half year. As a result of some strengthening of sterling, year-to-date revenue was 12% ahead of last year on a constant currency basis.
Besides, sugar revenues in the last 16 weeks were 54% ahead of previous year reflecting the strong commercial environment in Europe and to a lesser degree Africa. Also, agriculture is having another strong year with revenue 10% ahead in the last 16 weeks and 15% ahead in the year-to-date. Feed revenues were ahead in all sectors in the quarter with further strong growth in enzymes and progress in China.
In addition, Grocery revenues in the third quarter were level with last year and were 3% ahead year to date.
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