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Sugar starts to turn at ABF

Tightening stock levels have helped prices to recover
Sugar starts to turn at ABF

The future is finally beginning to look sweeter for Associated British Foods (ABF). The end of the European Union’s sugar regime, combined with oversupply in the region, weighed heavily on the group’s sugar business last year and caused adjusted operating profits to fall more than three-quarters. Yet lower sugar production caused stock levels to fall in 2018-19, and indications are that this will continue into 2020, which should cause prices to recover. 

IC TIP: Hold at 2,361p

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