AB Foods Sees Excellent Progress in 1st Half Adjusted Earnings
February 27 2017 - 2:54AM
Dow Jones News
By Tapan Panchal
LONDON--Associated British Foods PLC (ABF.LN) said Monday it
expects excellent progress in adjusted operating profit and
adjusted earnings per share for the first half of fiscal 2017, and
said sales at its fashion clothing unit, Primark, for the period
will be 11% ahead of last year on constant-currency basis due to
increased selling space.
Primark sales for the first half are expected to be 21% ahead of
last year at actual exchange rates, the company said.
In the six months ended Feb. 27, 2016, the food, ingredients and
retail group recorded adjusted operating profit of 486 million
pounds ($605.17 million) and adjusted earnings per share of 46.1
pence.
The London-listed company has reiterated its fiscal 2017 trading
outlook.
In January, it anticipated progress in group adjusted operating
profit and adjusted earnings for the fiscal year. The adjusted
figures strip out exceptional and other one-off items.
AB Foods is due to report its results for the six months ending
March 4 on April 19.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
February 27, 2017 02:39 ET (07:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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