By Jerome Smail2021-04-20T13:27:00+01:00
Source: Allied Bakeries
Associated British Foods (ABF) CEO George Weston has expressed pride in the company’s pandemic response, describing the latest financial results as ‘exceptional’.
The grocery arm of the organisation reported revenue of £1,834m in the 24 weeks ending 27 February 2021, representing a year-on-year rise of 9%. Adjusted operating profit for grocery during the same period was £199m, up 5% on the previous year.
Revenue in Allied Bakeries was in line with 2020, ABF said. Following the Kingsmill owner’s decision last year to exit its Co-op contract, cost reductions have been delivered to mitigate the loss in contribution, it added.
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