Associated British Foods Still Expects Modest Decline In Full Year Adj. Results

07-Dec-2015 - United Kingdom

Associated British Foods plc (ASBFY.PK, ABF.L) stated that it continues to expect currency pressures to lead to a modest decline in adjusted operating profit and adjusted earnings for the group for the full year. The company said there has been little movement in exchange rates since the year end and its view on the likely net impact on the translation of overseas results and also on the transactional exposures at Primark and European sugar is unchanged.

Charles Sinclair, Chairman of Associated British Foods, said: "The good underlying trading achieved by our businesses last year has continued into the new financial year which has started well. Investment in expansion opportunities will continue across the group, and we expect greater stability in sugar profit ahead of EU quota removal in 2017." (dpa)

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