ABF Reports Major Revenue Drop on Falling Sugar Prices
date:Jan 20, 2014
ry, revenue at constant currency was 2% ahead of last year but at actual rates was 1% below, largely as a result of a weaker Australian dollar. Twinings Ovaltine again performed well with strong growth for tea in the US and the UK. Sales by the UK grocery businesses were in line with last year. Volumes and margins at Allied Bakeries were ahead of last year but continued to face strong competition. Sales at Silver Spoon declined as a result of lost contracts and reduced UK sugar pricing but the p
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