LONDON-- Associated British Foods PLC (ABF.LN), the ingredients
supplier and owner of Primark clothing stores, said Thursday that
group revenue in the 40 weeks ended June 22 was up by 9%, with AB
Sugar sales and profit on track for the full year and Primark year
to date sales up 22%.
MAIN FACTS:
-Sugar sales were down 15% in the 16 weeks ended June 22, but up
1% in the 40 weeks ended June 22; Retail sales were up 20% in the
16 weeks ended June 22, up 22% in the 40 weeks.
-No change in expectation of good progress in full year adjusted
earnings per share
-Primark: In the third quarter, like-for-like growth was subdued
during the very cold months of March and April but there was a
marked improvement with the better weather in May and June.
-Building collapse at Rana Plaza in Bangladesh in April; Primark
has committed to long-term compensation for victims who worked for
its supplier, and their dependents.
-Net debt at June 22, 2013 was more than 250 million pounds
lower than the half year, at GBP1.1 billion; further reduction is
expected by the year end.
-Shares closed Wednesday at 1,815 pence valuing the company at
GBP14.37 billion.
-Write to Rory Gallivan at rory.gallivan@dowjones.com; Twitter:
@RoryGallivan
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