7th Sep 2015 06:14
LONDON (Alliance News) - Associated British Foods PLC on Monday said its expectations remain unchanged for a decline in adjusted operating profit in its current financial year.
The FTSE 100-listed group, which owns discount fashion retailer Primark and British Sugar and which operates an agriculture and consumer goods arm, said that a rise in operating profit at constant currency in grocery, agriculture, ingredients and retail will be offset by a decline in the sugar business, which along with changes in foreign exchange rates will lead to an overall fall in adjusted operating profit for the full year.
The company's financial year ends on September 12.
AB Foods added that if current exchange rates persist, they also will harm adjusted operating profit in the next financial year.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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