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Primark owner Associated British Foods warns profits will fall again after a 14% slump as sugar losses deepen

Primark owner Associated British Foods warns profits will fall again after a 14% slump as sugar losses deepen

Associated British Foods reported adjusted operating profit of £1.508bn for the year to September 2026, a 14% fall on the prior year, and warned shareholders on Tuesday that profit will decline again in 2027, mainly because of deepening losses at its sugar arm.

Like-for-like Primark sales fell 2.6% across the year, dragged down by a 4.7% dip in Continental Europe, its biggest market at 47% of sales.

ABF is pushing forward with a plan to separate Primark — which trades as Penneys in Ireland — from its food operations, with the split expected to complete in December 2027.

MoreLBCPrimark owner cautious over inflation and consumer confidenceCity A.M.Primark sales slip ahead of ABF exit in ‘challenging’ backdropIrish TimesPrimark-owner AB Foods forecasts further profit declineRetail GazettePrimark owner warns of further profit decline after 14% slump - Retail GazetteLondon South EastPrimark-owner forecasts further profit decline as sugar losses deepen
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