Associated British Foods' Outlook Edges Up Amid Primark Strength

Associated British Foods PLC (ABF.LN) said Thursday that its full-year outlook had improved slightly due to a strong performance at the fashion store chain Primark as it reported rising sales for the first 40 weeks of the fiscal year.

The fashion retailer and ingredients supplier said revenue from continuing businesses for the 40 weeks ended June 24 was 10% ahead of the same period last year in constant currency.

Revenue was 20% ahead at actual exchange rates due to the fall in sterling following Britain's vote to leave the European Union.

The company said trading at Primark was strong in the third quarter, helped in part by trading at new stores in the U.S., that resulted in a marginally improved outlook for the full year.

Revenue has also grown in the grocery, sugar and agriculture divisions, the company said.

ABF said it continues to expect to report good growth in adjusted operating profit and adjusted earnings per share for the full year.

-Write to Rory Gallivan at; Twitter: @RoryGallivan

(END) Dow Jones Newswires

July 06, 2017 02:36 ET (06:36 GMT)