* Group revenues up 11 pct in 40 weeks to June 23
* Sees substantial rise in FY adjusted op profit, EPS
* Primark like-for-like sales continue solid H1 trend
* Shares down 0.2 pct
By Helen Massy-Beresford
LONDON July 12 (Reuters) – Associated British Foods
is on course for a big rise in full-year adjusted earnings, it
said on Thursday, as cash-strapped shoppers braved wet weather
to snap up budget fashions at its Primark clothing chain.
The London-based food and retailing company said group
revenues rose 11 percent in the 40 weeks to June 23, or 12
percent at constant currency exchange rates, also reflecting
strong sugar sales.
ABF, which also sells Silver Spoon sugar and Twinings tea,
said Primark enjoyed good trading in the latest quarter in the
UK and Ireland despite the poor weather that kept shoppers off
the streets, particularly in April.
Underlying growth in the latest quarter continued the
momentum of the first half, when the chain enjoyed like-for-like
growth of 2 percent, finance director John Bason told Reuters.
Continued…
