News International Sugar Journal

AB Sugar’s profit falls 56% in 2013/14 [Registered]

AB Sugar, owned by Associated British Foods posted a significant lower adjusted operating profit (GBP189 mln against GBP434 mln) than last year driven by declining sugar prices, lower volumes and adverse currency translation. The price and volume effects were predominantly seen in Europe where prices were driven down by increased market competition as competitors seek to establish new market positions ahead of the removal of quotas in 2017, and by a desire to reduce quota stock levels across the EU which have been higher than normal, ABF said. The world sugar price, which has more of an impact on EU…

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