Associated British Foods PLC ABF,
The FTSE 100 company said revenue for the 16 weeks ended Jan. 7 increased at constant currency by 16% to 6.70 billion pounds ($8.29 billion) compared with the same period a year earlier.
Revenue for the period for AB Foods’ retail arm Primark rose 15% to GBP3.14 billion.
Primark’s performance to date has been positive across all its markets and ahead of expectations, but macroeconomic pressures are expected to weigh on consumer spending in the next months, AB Foods said.
The company said Primark’s adjusted operating profit margin–which strips out exceptional and other one-off items– for the period was better than expected as a consequence of the sales performance, while margin was somewhat lower due to higher costs.
Food business rose 17% to GBP3.55 billion, driven mainly by price increases to recover significant input cost inflation.
“For the full year, our expectation for the group result overall is unchanged with a significant growth in sales, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year,” it said.
AB Foods added that inflation has become less volatile and recently some commodity costs have declined.
Write to Michael Susin at michael.susin@wsj.com
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
PS PETITE SIMONE Woven Tote Bag for Women Large Woven Purse Woven Leather Handbags Braided Purse Weave Purse Hazel
$60.99 (as of July 1, 2024 21:15 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
occiam Wireless Earbuds Bluetooth 5.3 Headphones Ear buds 64H Playback IPX7 Waterproof in Ear Earphones for Smart Phone Laptop Computer Sports (Black)
$9.99 (as of June 30, 2024 21:12 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Welch's Fruit Snacks, Mixed Fruit, Perfect for School Lunches, Gluten Free, Bulk Pack, Individual Single Serve Bags, 0.8 oz (Pack of 40)
$4.36 (as of July 1, 2024 21:15 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Ubbi Vertical Baby Bottle Drying Rack, Countertop Drying Rack Baby Accessory, Gray
$19.02 (as of July 1, 2024 21:15 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
