AB Foods Sees Higher Fiscal Year 2021 Primark Revenue, Profit Despite GBP430 Million of Lost Sales
December 04 2020 - 02:45AM
Dow Jones News
By Matteo Castia
Associated British Foods PLC said Friday that it expects to have
lost sales worth 430 million pounds ($578.4 million) due to store
closures this autumn, but that it still anticipates full-year
Primark revenue and profit to beat fiscal 2020 results.
The British conglomerate said sales since reopening shops last
week have been strong, driven by its clothing arm Primark's
offering.
The company said it expects its sugar business to deliver a
higher profit for the whole of fiscal 2021 too.
"At this early stage in our new financial year, trading across
grocery, sugar, ingredients and agriculture has been ahead of both
expectation and last year," AB Foods said.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
December 04, 2020 02:30 ET (07:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Associated British Foods (LSE:ABF)
Historical Stock Chart
From Feb 2024 to Mar 2024
Associated British Foods (LSE:ABF)
Historical Stock Chart
From Mar 2023 to Mar 2024