London / UK. (abf) Associated British Foods PLC told Reuters it is set to raise the price of its Kingsmill bread in the United Kingdom after wheat prices have nearly doubled over the last year. In the newest press release «Pre Close Period Trading Update» AB Foods explains: The major relaunch of the Kingsmill brand in February has increased volumes and market share. Combined with a price increase this has resulted in an improving performance for Allied Bakeries. However, a further bread price increase is now required to recover the recent sharp increases in the cost of flour.
Read more: https://www.abf.co.uk/media/press_release.asp?pr=20070910_1
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