Sweeter figures from Associated British Foods

ASSOCIATED British Foods (ABF) which owns British Sugar has posted a 23 per cent increase in sugar revenues in the three months up to January 2.

And the figures exclude the performance of the Spanish company Azucarera it bought last April.

If that had been included, then the division would be showing 68 per cent ahead of last year.

ABF says the UK business is having an excellent campaign with high beet yield per hectare and high sugar content in the beet giving rise to an estimated sugar production of some 1.3m tonnes.

Profit benefited from higher volumes, better factory efficiencies and lower energy costs together with a strengthening of the euro.

Most other countries were performing well.

A spokesman for the NFU sugar board commented: “The profitability of the UK sugar industry is important for both the processor and for beet growers. ABF’s recent announcement demonstrates a continued strengthening of the UK industry, following the European sugar reforms.

“The NFU is currently in contract negotiations with British Sugar to ensure growers’ profitability is recognised and maintained in the coming years.”

22 January 2010