Sugar improvement turns markets sweet on Associated British Foods

The share price of Associated British Foods (LON:ABF) has climbed by 1.92% to 2,545p (as of 14:10 GMT) after the company posted an AGM trading statement. Management said that the sugar division had benefited from higher EU prices and cost reductions, while the groceries arm also saw margin improvements.

The company said that Primark would continue expanding its selling space, with a focus on France and Spain in the current year. The firm had a good pipeline on sites and expected only a small reduction in lease adjusted margins for the year.