LONDON Dec 6 Primark, the British discount
fashion retailer owned by Associated British Foods, has
seen further growth in underlying sales since September, it said
"Trading in the year to date (since Sept. 14) has built upon
the exceptional like-for-like growth delivered in the same
period last year with further like-for-like growth achieved," AB
Foods chairman Charles Sinclair said in a statement at the
firm's annual shareholders meeting.
He said that trading for the wider group had been in line
with expectations and reiterated guidance for adjusted earnings
per share in the 2013-14 year similar to that achieved in
The group expects a further reduction in profit from AB
Sugar as sugar prices fall and the market rapidly adjusts ahead
of regime reform in 2017, offset by better profit at Primark and
its grocery business.
Primark expects to add over 1 million square feet of selling
space in 2013-14, up from 0.8 million square feet in the
previous year. [ID:nL5N0IQ0TC}
Shares in AB Foods, up 54 percent over the last year, were
up 0.4 percent at 2,260 pence at 1130 GMT, valuing the business
at 17.9 billion pounds ($29.2 billion).