Associated British Foods – Primark Owner Escapes Inflation Irritation Among Retailers

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Ignoring the impact of exchange rates, Associated British Foods‘ (LON:ABF) revenue in the third quarter rose 32% to £4.0bn. This reflected double-digit growth in the Food business and a near doubling of revenue in Retail as covid restrictions eased. Trading in the period met expectations and the group’s still expecting “significant progress” in underlying operating profit at the full year. Q1 2022 hedge fund letters, conferences and more Shares were up 2% following the announcement. Associated British Foods’s EarningsLaura Hoy, Equity Analyst at Hargreaves Lansdown: “Inflationary concerns were…

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