Seasonal decline in sugar prices after the abolition of quotas in the European Union last year kept the weight on the income on a silver spoon and a cheap owner, associated British foods (ABF).
Revenues for the FTSE 100 conglomerate, which also owns twinings and milk, grew by 3pc in the 40 weeks to 23 June, eliminate the effects of currency fluctuations.
But they were up 6PC on the same basis would not be a 17pc decline in sales of sugar.
World sugar prices fell by more than 25pc since the beginning of the year after the European Union lifted restrictions on the number of sugar beet was allowed to cultivate.
Said ABF recession will knock its profits, but it will be offset by the improvement…
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