REG - Assoc British Foods - Chairman's Address to AGM <Origin Href="QuoteRef">ABF.L</Origin>

Associated British FoodsAnnouncement

08/12/2017 11:11

RNS Number : 8060Y
Associated British Foods PLC
08 December 2017
Chairman's Address to AGM
8 December 2017
At this early stage in our new financial year, I would reiterate the outlook that we included in my statement in the annual report.
Primark'sselling space expansion will continueand indeed we have already opened five new stores in addition to two relocations in this financial year to bring our total selling space to 14.2 million sq ft. With Primark margins in line with that of our last financial year, we expect an increase in Retail profit.
Progress is expected from Grocery, Agriculture and Ingredients.In Sugar,higher volumes and lower costswillonly partially mitigate the effect of much lower EU prices.
At current exchange rateswe expect no material transactional or translationaleffect on profit.
Taking all of these factors into account, at this early stage, we expect progress in adjusted operating profit and adjusted earningsper share for the group for this financial year.
For further information please contact:
Associated British Foods:
John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7638 9571
Citigate Dewe Rogerson:
Chris Barrie, Eleni Menikou
Tel: 020 7638 9571
Jonathan Clare
Tel:07770 321881

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