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AB Foods maintains year earnings guidance

Reuters - UK Focus

LONDON, Feb 23 (Reuters) - Associated British Foods (LSE: ABF.L - news) maintained full year earnings expectations, with growth at its Primark discount fashion chain and progress at its grocery, ingredients and agriculture businesses offsetting continued weakness in its sugar operation.

The firm said on Monday it still expected a marginal decline in adjusted earnings per share (EPS) for its 2014-15 year from the 104.1 pence made in 2013-14.

Ahead of the publication of first half to Feb. 28 results on April 21 it said underlying trading remained in line with expectations

As previously indicated, it said adjusted operating profit for the first half was expected to be lower than last year's 497 million pounds ($764.4 million).

It said adjusted first half EPS are expected to be in line with last year, largely benefiting from a lower tax rate. (Reporting by James Davey; editing by Kate Holton)