Associated British Foods Backs Annual Outlook

Associated British Foods Plc (ASBFY.PK,ABF.L), a British food processing and retailing firm, on Friday reaffirmed its guidance for the full-year.

The company continues to expect a significant growth in sales. However, it projects a decline in adjusted operating profit and adjusted earnings per share, when compared with the previous year.

For the fiscal 2022, the company had reported adjusted operating income of 1.435 billion pounds, with adjusted EPS of 131.1 pence per share, on sales of 17 billion pounds.

Associated British Foods' Chairman, Michael McLintock, said: "At this early stage, Primark trading in this financial year has been encouraging. We are on track to open 27 new stores this financial year, ten of these opening in the run-up to Christmas."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT