AB Foods earnings fall 40% on Primark's COVID-19 hit

Associated British Foods on Tuesday reported a 40% fall in full year earnings, with a COVID-19 related hit to profit at its Primark clothing business outweighing increases at its sugar, grocery, agriculture and ingredients divisions.

The group said it made adjusted earnings per share of 81.1 pence in the year to Sept. 12, down from 137.5 pence reported for the 2018-19 year.