AB Foods sees strong start, revenues up 12%

published 19 January 2012

Associated British Foods, the firm behind retailer Primark and food brands such as Twinings and Ryvita, said that group revenue rose 12% in the first 16 weeks of the year.

This was helped by an "exceptional sales performance" from its Sugar and Primark divisions, which saw sales growth of 21% and 16%, respectively.

However, the group did warn that economic uncertainty, particularly in the Eurozone, along with pressure on consumers' disposable incomes would remain "key features of this financial year".