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Primark Owner AB Foods Forecasts Flat First-Half Earnings

Published on Feb 25 2019 9:30 AM in Retail tagged: AB Foods / Primark / Paywall / First-Half Forecast

Primark Owner AB Foods Forecasts Flat First-Half Earnings

Associated British Foods said on Monday it would deliver first-half revenue growth in all of its businesses, other than sugar, helping it to deliver earnings per share broadly in line with the previous year.

The group, which owns the Primark clothing chain as well as major grocery, agriculture and ingredients businesses, said it expected a small reduction in adjusted operating profit for the 24 weeks to 2 March, offset by lower net financial expenses.

AB Foods made an adjusted operating profit of £648 million (€975.66 million) in the first half of its 2017-18 year, with adjusted EPS of 61.3 pence.

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