AB Foods' Update Disappoints Given Weak Outlook for Sugar -- Market Talk

Dow Jones09-05

0818 GMT - AB Foods reported a weaker-than-expected update for the second half given the weaker outlook for the sugar business, RBC analysts say in a note. The British conglomerate released its update earlier due to a materially lower forecast for the sugar division of 200 million pounds in fiscal 2024, against RBC's 250 million pounds forecast, and between 50 million and 75 million in fiscal 2025, against RBC's expectations of 220 million pounds, they say. The segment has been affected by weaker pricing and weaker-than-expected demand in major markets, although AB Foods expects it to recover in fiscal 2026 as a result of lower beet prices that have been contracted, they add. Shares are down 3.7% at the bottom of the FTSE 100 index list. (michael.susin@wsj.com)

(END) Dow Jones Newswires

September 05, 2024 04:18 ET (08:18 GMT)

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The British conglomerate released its update...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AB","symbol_name":"联博控股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2465819510","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465819510","pubTimestamp":1725524280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0818 GMT - AB Foods reported a weaker-than-expected update for the second half given the weaker outlook for the sugar business, RBC analysts say in a note. 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