Reported about 11 hours ago
Allied Bakeries has been placed under a strategic review by its parent company, Associated British Foods (ABF), due to a difficult market environment affecting revenues and profits. For the 24-week period ended March 1, ABF reported declines in sales and operating profits, attributing the underperformance partly to its grocery division, which includes Allied Bakeries. ABF plans to explore strategic options for the bakery group and expects to provide updates by the second half of 2025.
Source: YAHOO