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Associated British Foods faces sugar volatility

Associated British Foods faces sugar volatility

Higher EU sugar prices, lower UK sugar beet costs and an increase in sales volumes at sugar producer Illovo saw revenues at Associated British Foods’ (ABF) AB Sugar division increase by more than a fifth at constant currency over the past year to £2.2bn, with adjusted operating profit up 374 per cent to £223m. What's more, finance director John Bason isn't concerned about the recent lift on sugar quotas in the EU, or the looming UK sugar tax due in April next year because he believes sugar will remain an essential part of western diets.

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