ABF: Q3/2008 revenue rises 24 percent

London / UK. (abf) Associated British Foods PLC (ABF) reported a 24 percent revenue growth in the third quarter due to enhanced business performance across its divisions, and said its trading since the half year has been in line with its expectations. The company also said it expects profit to rise in the rest of the group, excluding sugar business, though difficult economic conditions are having an impact on consumer demand. Third quarter highlights:

• Group revenue up 19 percent
• Announcement of proposed merger of Jordans and Ryvita
• Acquisition of KR Castlemaine in Australia
• Primark expansion in Spain

In its interim management statement, the Primark owner said that higher commodity costs and substantial increases in energy prices were the factors that influenced the current trading environment. The company said in a statement, «Nevertheless, with the exception of Sugar where, for well documented reasons, profit will fall short of last year, we continue to expect profit in the rest of the group to show progress in the second half» (complete statement).

Year on year increase	in revenues:
	16 weeks to 21 June	40 weeks to 21 June
Sugar	21%	5%
Agriculture	42%	30%
Grocery	30%	22%
Ingredients	18%	18%
Retail	14%	20%
Total group	24%	19%