Associated British Foods has warned that Allied Bakeries has achieved lower volumes than expected, as it prepares to release its interim results.
Volumes across Allied’s range of products were affected over the last six months, said a spokesman. Full details of the results will be announced on April 19, when ABF issues its interim results to March 4, 2006.
However, performance at Associated British Foods’ AB Mauri division has been more satisfactory, it said in a trading update on February 27.
It said: “It will contribute strongly, reflecting a full half year of profit, the benefits of price and volume increases and growth in bakery ingredients. Capacity has been increased in a number of Asian factories and the newly-opened factory in western China is doing well.”
British Sugar’s trading in the UK and Poland across the year has been difficult, it said, with price pressure on contracts for this calendar year and sharply higher energy costs. Operating profit for these businesses will be lower than last year as a result. However, this year’s campaigns were excellent in the UK and Poland, and the UK crop is forecast to reach 1.34 million tonnes.