January 12, 2017 / 7:17 AM / a year ago

AB Foods says Primark sales rise over Christmas period

LONDON, Jan 12 (Reuters) - Associated British Foods said total sales at discount fashion store Primark climbed 11 percent in the 16-week Christmas period as it stuck to a forecast to make progress in group annual operating profit.

AB Foods said that on a constant currency basis sales at Primark were 11 percent higher in the 16 weeks to Jan. 7 compared to the previous year, as it opened more shop space. In the UK, it reported “good” underlying sales and said stock was well-managed in the period.

On a group basis, the company, which also has big sugar and grocery businesses, said its outlook for the year was unchanged. (Reporting by Sarah Young; editing by Costas Pitas)

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