Fashion and sugar boost profits at Associated British Foods. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Demand for sugar and low-cost fashion, as well as exchange rates working in its favour, helped Associated British Foods report a stronger than expected third quarter.The owner of retail chain Primark and brands such as Twinings and Ovaltine said its underlying operating performance during the three months to June 24 – the third quarter of its financial year – was ahead of its own forecasts thanks in particular to improved profitability at Primark.Reported revenue was up by 20 per cent year-on-year, boosted by the weak pound. Without the beneficial impact of foreign exchange rate moves sales would have increased 13 per cent.This is a
Siona Jenkins considers the following as important: Opening Quote, Uncategorised
This could be interesting, too:
FT Alphaville writes Thought for the weekend
Sujeet Indap writes Should you trust your investment banker to be faithful?
Thomas Hale writes The strange economics of the university strikes
Thomas Hale writes Further reading
Fashion and sugar boost profits at Associated British Foods. FT Opening Quote is your...