LONDON, Sept 12 Primark-owner Associated British
Foods on Monday raised its earnings outlook for the
second time in two months, benefiting from better-than-expected
second-half trading and favourable currency moves.
The firm, which also has major sugar, grocery, agriculture
and ingredients businesses, said it now expected earnings per
share (EPS) for the 2015-16 year to be marginally ahead of the
102 pence made in 2014-15.
AB Foods had raised its outlook in July, saying it no longer
expected a decline in adjusted EPS.
"The underlying operating performance of the group has been
ahead of our expectation in the second half and the further
weakening of sterling during the period since the EU referendum
has resulted in a translation benefit," it said.
The firm said full-year sales at Primark are expected to be
9 percent ahead of last year at constant currency.
(Reporting by James Davey; editing by Kate Holton)