UPDATE 1-Primark owner AB Foods maintains full-year guidance [Reuters]
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Source: Reuters
UPDATE 1-Primark owner AB Foods maintains full-year guidance - Reuters 2 Min Read (Adds detail) LONDON, Sept 9 (Reuters) - Associated British Foods maintained its guidance for the 2018-19 year, forecasting good profit performances at its Primark fashion chain and grocery business would offset a decline in its sugar operations. The group, which also owns agriculture and food ingredients businesses, forecast adjusted earnings per share in line with 2017-18’s 134.9 pence. It said full year sales at Primark, which accounts for about half of group revenue and profit, are expected to be 4% ahead of last year, driven by increased selling space partially offset by a 2% decline in like-for-like sales. The group said it continued to win market share in Britain, despite a like-for-like sales decline of 1%. AB Foods said its businesses had completed all practical preparations for Britain leaving the European Union and contingency plans were in place should it experience disruption at the time of
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