Associated British Foods PLC Chairman's Address to AGM (8060Y)
December 08 2017 - 6:03AM
UK Regulatory
TIDMABF
RNS Number : 8060Y
Associated British Foods PLC
08 December 2017
Chairman's Address to AGM
8 December 2017
At this early stage in our new financial year, I would reiterate
the outlook that we included in my statement in the annual
report.
Primark's selling space expansion will continue and indeed we
have already opened five new stores in addition to two relocations
in this financial year to bring our total selling space to 14.2
million sq ft. With Primark margins in line with that of our last
financial year, we expect an increase in Retail profit.
Progress is expected from Grocery, Agriculture and Ingredients.
In Sugar, higher volumes and lower costs will only partially
mitigate the effect of much lower EU prices.
At current exchange rates we expect no material transactional or
translational effect on profit.
Taking all of these factors into account, at this early stage,
we expect progress in adjusted operating profit and adjusted
earnings per share for the group for this financial year.
For further information
please contact:
Associated British Foods:
John Bason, Finance Director
Flic Howard-Allen, Head
of External Affairs
Tel: 020 7638 9571
Citigate Dewe Rogerson:
Chris Barrie, Eleni Menikou
Tel: 020 7638 9571
Jonathan Clare
Tel: 07770 321881
This information is provided by RNS
The company news service from the London Stock Exchange
END
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