1 of 1
Story summary
- Associated British Foods (ABF) reported a 2.7% decline in Primark's Christmas quarter sales.
- A January 8 profit warning drove ABF shares down 14%.
- The warning cited weaker Primark sales and softer U.S. demand for oils and bakery ingredients.
- ABF weighs separating Primark from its food business, including Ovaltine and Twinings, with a decision by April 21.
- Total retail revenue rose 4.2%, while sugar and ingredients revenues missed estimates.
