Investor Alert

Feb. 25, 2019, 2:26 a.m. EST

AB Foods forecasts flat earnings

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Adria Calatayud

Primark-owner Associated British Foods PLC (ABF.LN) said Monday that it expects to report flat first-half adjusted earnings on sales that are forecast to grow in all of its divisions apart from the sugar segment.

For the six months ending March 2, the food-processing and retail group said it expects adjusted earnings per share to be in line with the year-earlier period, with a small decline in adjusted operating profit offset by lower financial expenses.

Sales at clothing-retail business Primark are expected to rise 4%, due to an increase in retail space, the company said. Like-for-like sales are forecast to have fallen 2%, AB Foods said.

The company said that first-half revenue from its sugar division will be lower than in the year-earlier period, in line with previous guidance, and that the business will post a marginal loss.

For the full year, AB Foods said it keeps its outlook unchanged, with both adjusted operating profit and adjusted earnings per share expected to be in line with fiscal 2018.

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.