Primark owner AB Foods profit falls 13% on weak sugar business

Core Viewpoint - Associated British Foods, the owner of Primark, reported a 13% decline in full-year profit, primarily due to poor performance in its sugar business, which was impacted by low European prices. However, the company anticipates an improved outcome in the upcoming financial year [1] Group 1 - The company experienced a 13% fall in full-year profit [1] - The decline in profit was significantly influenced by the weak performance of its sugar business [1] - Low European prices were a key factor affecting the sugar business [1] Group 2 - The company forecasts an improved outcome for the new financial year [1]