Business · 2 July 2026

Primark owner expects lower profits after sugar hit

Shoppers could see a retailer facing tougher trading as higher gas costs add pressure to its wider business. Associated British Foods said quarterly revenue reached £5.3 billion to June 20, while it still expects adjusted pre-tax profit this year to be lower than last year. Sugar revenue dropped 4%, and Primark's like-for-like sales fell 2.2%.

By BriefTea Editorial · 2 July 2026 at 16:49

Reported by The Standard · How we write briefs