Interim dividend 20.7 pence/share, up 46% (Il Sole 24 Ore Radiocor) - London, 23 Apr - ABF said it expects Grocery to continue to perform well, supported by a step-up in marketing investment, although the strong profitability of the US-focused brands is expected to normalise somewhat towards the end of the second half. In Sugar, it continues to expect a substantial improvement in profitability, benefiting from a more typical beet crop and production level at British Sugar and the reduced losses in Vivergo. Following a better than expected first half, ABF now expects Ingredients to perform well this financial year, driven by AB Mauri.

Primark should continuento perform well in the second half driven by the store expansion program and the modest levels of like-for-like growth, as the group focuses on driving volumes.

"While the consumer environment remains soft, we expect to benefit from the strength of our value proposition, our product relevance and category stretch and our increasingly effective digital engagement. We expect a moderate improvement in adjusted operating margin in Primark in the second half compared to the first half, albeit with a step-up in investment to support medium-term growth." ABF announced a 46% increase in the interim dividend to 20.7 pence, reflecting growth in earnings.

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(RADIOCOR) 23-04-24 08:55:28 (0193) 5 NNNN