By Matteo Castia
Associated British Foods PLC said Friday that it expects to have lost sales worth 430 million pounds ($578.4 million) due to store closures this autumn, but that it still anticipates full-year Primark revenue and profit to beat fiscal 2020 results.
The British conglomerate said sales since reopening shops last week have been strong, driven by its clothing arm Primark's offering.
The company said it expects its sugar business to deliver a higher profit for the whole of fiscal 2021 too.
"At this early stage in our new financial year, trading across grocery, sugar, ingredients and agriculture has been ahead of both expectation and last year," AB Foods said.