Plus   Neg

Associated British Foods Issues Trading Outlook; FY Guidance Unchanged

Associated British Foods plc (ASBFY.PK,ABF.L) said, for the half year, it expects sales growth and anticipates adjusted operating profit to be ahead of last year on both a lease-adjusted and reported basis. On a lease-adjusted basis, the Group expects adjusted earnings per share to be ahead of last year. On a reported basis, the dilutive effect of the adoption of IFRS 16 on earnings will result in a small reduction in adjusted earnings per share in the first half, the Group said.

For the first-half, sales at Primark are expected to be 4.2% ahead of last year at constant currency and 2.5% ahead at actual exchange rates, driven by increased retail selling space and level like-for-like sales.

Looking forward, Associated British Foods projects strong growth in adjusted operating profit in the second half. As a result, the Group's outlook for the full year is unchanged with progress expected, on both a reported and a lease-adjusted basis, in adjusted earnings per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT