LONDON--Associated British Foods PLC (ABF.LN) Monday said its full-year profit will come in below last year's results due to the strengthening pound and weaker earnings in its sugar arm.

Overall, results for the year to Sept. 12 will be in line with guidance given in June, the company reported.

AB Foods, which owns the Primark fashion chain, said the previously-flagged impact of the stronger pound will reduce earnings by GBP30 million ($45.6 million).

"If current rates persist we expect an adverse effect on adjusted operating profit next year," it added.

Net debt at the year-end will be lower than the GBP446 million reported at the end of the 2014 financial year, AB Foods said.

Write to Ed Ballard at ed.ballard@wsj.com

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(END) Dow Jones Newswires

September 07, 2015 02:28 ET (06:28 GMT)

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