By Ian Walker
LONDON--Clothing and food retailer Associated British Foods PLC
(ABF.LN) said Friday that trade for the first two months of fiscal
2014 was in line with expectations, with further growth in
like-for-like sales at discount fashion retailer Primark.
AB Foods, which also houses Twinings tea and Silver Spoon in its
portfolio of businesses, added that it still expects adjusted
earnings per share for both Primark and Grocery to be similar to
that in 2013, without giving any further information.
Chairman Charles Sinclair said the company will add over one
million square feet of selling space in Primark this fiscal year,
compared with 0.8 million square feet added in the year ended Sept.
14, 2013, although new store openings will be more evenly spread
over the period.
Mr. Sinclair confirmed that he expects a further reduction in
profit from AB Sugar as sugar prices decline and the market rapidly
adjusts ahead of regime reform in 2017.
Shares at 1120 GMT were up 11 pence, or 0.49%, at 2263 pence in
a higher FTSE 100 Index, which was up 0.38%.
Write to Ian Walker at ian.walker@wsj.com
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