Associated British Foods on Tuesday forecast another profit decline this year after reporting a 14 per cent fall in 2025/26, as deeper sugar losses and lower underlying sales at its Primark fashion chain weighed on earnings.
The FTSE 100 group confirmed in April it would demerge Primark, which trades as Penneys in Ireland, from its food businesses next year. The group made adjusted operating profit of £1.508 billion (€1.8 billion) for its year to September 12th 2026, on group revenue down 1% on a constant currency basis to £19.58 billion.
“In 2027, the group is expected to deliver adjusted operating profit and adjusted EPS below 2026, mainly due to Sugar, as previously guided,” the group, which also owns grocery, ingredients and agriculture businesses said.
It said it remained cautious on consumer sentiment and also the impact of inflation and higher energy costs on its businesses.
AB Foods said work on the demerger is progressing well and is expected to be completed in December 2027. - Reuters
Source: The Irish Times · Tue Nov 03 2026 - 07:31 • 1 MIN READ
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