AB Foods Group Sales Rose in First 16 Weeks of Fiscal Year 2020
16 Enero 2020 - 1:55AM
Noticias Dow Jones
By Adriano Marchese
Associated British Foods PLC (ABF.LN) said Thursday that group
sales rose in the first 16 weeks of fiscal 2020, which included the
key Christmas period, benefiting from increased Primark sales.
For the period ended Jan. 4, the U.K. food-processing and retail
company said group revenue from continuing operations rose 4% ahead
of the same period last year at constant currency. Sales from
continuing operations at actual exchange rates were 3% ahead.
Primark sales rose 4.5% at constant currency in the period
compared with the prior-year period. At actual exchange rates,
sales were up 3%. The company said the sales growth was due almost
entirely to the increase in selling space. Like-for-like
performance also improved, driven by a marked upturn in the
eurozone, rising 5.1% at constant currency.
In the U.K., Primark sales were 4% ahead of last year, with a
marginal decline in like-for-like sales, but with particularly good
trading in November and December, the company said.
Revenue at the company's sugar business rose 7% in the period at
constant currency, which represents a 5% increase at actual
exchange rates, with European Union sugar prices remaining at
higher levels than last year.
Sales for the grocery business were level with last year at both
constant currency and actual exchange rates, while margin improved,
the company said.
Looking ahead, AB Foods said outlook for the group is unchanged,
with progress expected in adjusted earnings per share for the
year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 16, 2020 02:40 ET (07:40 GMT)
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