Date: Thursday 08 Jul 2010
AB Foods is on course to deliver “very good progress” on earnings for the year after its Silver Spoon sugar business and discount clothes chain Primark put in a solid performance during the third quarter.Revenue in the 16 weeks to 19 June is up 13%, aided by a 44% surge in sugar revenues and 15% increase at the retail business. It’s up 14% for the first 40 weeks of the financial year.
“The weakness of sterling continued to benefit the translation of group revenues from continuing businesses which were 9% ahead at constant currency, again in line with the half year,” said the firm.
Man Group said sales in the second quarter have remained subdued amid continued market uncertainty.
Funds under management (FUM) fell to $38.5bn at the end of June from $39.4bn on 31 March. Man’s flagship AHL fund generated a positive return of 0.9% compared with an 11.6% drop in world stocks. 
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