UK food producer Associated British Foods (ABF) has released its results for the 52 weeks ended 13th September 2025, reporting a 12% decline in adjusted operating profit.
ABF attributed the decline to a reduction in operating profit in its Sugar category. Revenue decreased 1% to reach £19,459 million, down from 2024’s revenue of £20,073 million, with growth in its retail category offset by a decline in sugar.
In its Grocery category, ABF experienced “good sales growth” delivered by international brands, offset by US oils and Allied Bakeries. Its Ingredients division delivered “strong growth” in adjusted operating profit.
Adjusted operating profit in ABF’s Agriculture category declined due to one-off costs and a lower profit contribution from its joint venture.
“The actions taken to close our Vivergo bioethanol plant and restructure our Spanish business will support improved profitability.”
George Weston, chief executive of Associated British Foods, said: “This was a year of intense strategic and operational activity within ABF. Most of our businesses delivered robust financial results, while navigating a challenging external backdrop.
“Primark’s improved UK trading in the second half was encouraging and reflects renewed focus on our value proposition, a stronger product offer and enhanced digital capabilities.
“Overall trading in our Grocery and Ingredients businesses was as expected. In a difficult year for Sugar, the actions taken to close our Vivergo bioethanol plant and restructure our Spanish business will support improved profitability.
“Looking ahead, we are confident in the Group outlook for 2026 although much depends on the consumer environment, which is particularly unpredictable at the moment. Our strong balance sheet underpins disciplined investment as we continue building brands and businesses that will deliver growth over the long term.
“I fully support the Board’s review of the Group structure and will be closely involved in the process and any outcome. Within ABF we have two great businesses but one strong culture of long-term value creation driven by the dedication and excellence of our people. Our unique and exceptional Food business has historically been less well understood by the financial markets than Primark, yet it has a highly attractive portfolio, deep global expertise and much potential.”
The producer is now considering a potential separation of its Primark and Food businesses.
