September 9, 2019 / 6:09 AM / 2 months ago

Primark owner AB Foods maintains full-year guidance

LONDON, Sept 9 (Reuters) - Associated British Foods maintained its guidance for the 2018-19 year, forecasting good profit performances at its Primark fashion chain and grocery business would offset a decline in its sugar operations.

The group, which also owns agriculture and food ingredients businesses, forecast adjusted earnings per share in line with 2017-18’s 134.9 pence.

It said sales at Primark for the full year are expected to be 4% ahead of last year, driven by increased selling space partially offset by a 2% decline in like-for-like sales.

Reporting by James Davey, Editing by Paul Sandle

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