September 10, 2018 / 6:22 AM / 2 months ago

AB Foods maintains full year guidance on strong Primark

LONDON, Sept 10 (Reuters) - Associated British Foods maintained its full year guidance, saying strong profit performances from its Primark fashion chain, grocery, agriculture and ingredients businesses would more than offset a weak outcome from its sugar operation.

The firm said on Monday it expected “progress” in adjusted operating profit and adjusted earnings per share in its 2017-18 year.

It said sales at Primark for the year were expected to be 5.5 percent ahead of the previous year at constant currency, driven by increased selling space, offset by a 2 percent decline in like-for-like sales. (Reporting by James Davey; editing by Costas Pitas)

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