Thursday 21 September 2017

AB Foods earnings growth driven by Primark

Behind the scenes access at the Penney's AW13 launch
Behind the scenes access at the Penney's AW13 launch

Associated British Foods forecast "good progress" in full year earnings per share after a strong finish to the year from its Primark discount fashion chain, which trades here as Penneys.

The retail and food group also said today that adjusted operating profit for the second half of its year to Sept. 14 would be ahead of expectations thanks to Primark's performance.

It said Primark's full year sales were expected to be 22pc ahead of the prior year at actual exchange rates, with like-for-like sales growth expected to be close to 5pc.

Reuters

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