Dow Jones Newswires: AB Foods backs FY 2023 view as revenue rises on better-than-expected consumer spending

Associated British Foods PLC UK:ABF said Tuesday that revenue for the first 16 weeks of fiscal 2023 rose on year after better-than-anticipated consumer spending despite increasing cost pressures, and backed its full-year expectations amid lower inflation volatility.

The FTSE 100 company said revenue for the 16 weeks ended Jan. 7 increased at constant currency by 16% to 6.70 billion pounds ($8.29 billion) compared with the same period a year earlier.

Revenue…