January 16, 2020 / 7:12 AM / a month ago

AB Foods keeps earnings guidance after Primark's solid Christmas

LONDON, Jan 16 (Reuters) - Associated British Foods kept its full year earnings outlook on Thursday, partly due to solid revenue growth at its Primark fashion chain in the Christmas trading period.

The group, which also owns major grocery, agriculture and ingredients arms, said on Thursday it still expected “progress” in adjusted earnings per share in the full 2019-20 year.

For the 16 weeks to Jan. 4 group revenue from continuing operations was up 4% year-on-year on a constant currency basis, with Primark sales up 4.5% on the same basis. (Reporting by James Davey; editing by Sarah Young)

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