Associated British Foods PLC said Friday that it backed its full-year outlook, but that it was mindful of further significant input cost inflation. The British conglomerate
said its clothes store Primark has been performing encouragingly and that it is on track to open 27 new stores in the year.
“For the full year, we continue to expect significant growth in sales for the group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year,” Chairman Michael McLintock said. It continues to expect profit in the food businesses to be ahead of the last financial year. Write to Kyle Morris at [email protected]