By Sabela Ojea

Associated British Foods PLC said Friday that fashion retailer Primark's performance since the fiscal 2021 year ended on Sept. 18 has been ahead of expectations thanks to stronger like-for-like sales when compared with the latest quarter.

The British conglomerate said its performance across grocery, sugar, ingredients and agriculture has also been in line with views, which will help it achieve its current views of closing the first half and fiscal 2022 as a whole with adjusted operating profit and adjusted earnings per share growth.

The FTSE 100 company said that Primark's margin has beat expectations on a year-to-date basis.

Primark, which is suffering from the latest Covid-19 restrictions in Germany, Austria and the Netherlands, has opened two stores since its fiscal 2021 year ended, AB Foods said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 10, 2021 02:36 ET (07:36 GMT)

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