ASBFY vs. UTZ: Which Stock Is the Better Value Option?
Owner ABF says its grocery brands such as Twinings and Kingsmill also increased trading
Associated British Foods' profit margin for its grocery division will fall in its 2022-23 year as input costs continue to outpace price rises for its customers, its finance chief said on Tuesday. John Bason told Reuters this showed AB Foods, whose grocery brands includes Twinings tea, Jordans cereals and Ovaltine drinks, was not using inflation as an excuse to hike prices more than necessary. On Sunday, John Allan, the chairman of Britain's biggest supermarket group, Tesco, told BBC television some food companies had pushed for illegitimate price rises - comments that baffled the head of the country's farmers union and food industry groups.