Associated British Foods Announces Trading Update
Associated British Foods plc has issued a trading update ahead of the publication of its full year results on 8 November.
The company has declared that it expects full year earnings per share to be slightly ahead of the previous year.
Operating profits are expected to be ahead of last year, while net interest expenses are estimated to remain the same.
Profit margins at its UK Primark business are estimated to decline, due to adverse currency exchange rates, while British Sugar’s margins are expected to increase.
In terms of its Grocery business, despite price deflation occurring in the 52nd week of the year, profit margins are still showing consistent performance levels and the company expects profits to be ahead of the previous 53 weeks.