Overview

• AB Foods anticipates substantial profit growth in 2024, with easing inflation and strategic expansions driving performance.
• Primark, owned by AB Foods, sees profit margins recover as it benefits from new store openings and higher selling prices.
• The company raises its interim dividend by 46%, reflecting confidence in continued financial improvement.
• Despite a challenging economic environment, AB Foods reports a 37% increase in pre-tax profits, signaling strong operational execution.
• AB Foods continues to innovate with plans to expand Primark's 'click and collect' service across the UK by end of 2025.