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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."

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