LONDON, April 23 Associated British Foods
beat forecasts with a 20 percent rise in first half
profit, with a stellar performance from its Primark clothing
chain and a recovery in its grocery division more than
offsetting lower earnings from sugar.
The firm, said on Tuesday it made underlying operating
profit of 496 million pounds ($756 million) in the six months to
That compared to analysts' average forecast of 485 million
pounds and was up from 412 million pounds in the 2011-12 half
year. Revenue increased 10 percent to 6.33 billion pounds.
Underlying earnings per share rose 22 percent to 41.9 pence
and the firm is paying an interim dividend of 9.35 pence, up 10
AB Foods said it expected to make "good progress" in its