By Sabela Ojea

Associated British Foods PLC said Monday that its full-year adjusted operating profit is now expected to surpass the previous year's despite lower-than-expected sales, and that both Primark and the AB Food business are anticipated to exceed management's previous expectations.

The British conglomerate said Primark's adjusted operating profit for the year ending Sept. 18 is expected to be ahead of last year, and that operating margin for the fourth quarter was strong.

The FTSE 100-listed company said adjusted earnings per share are anticipated to be marginally ahead of last year.

Regarding its AB Sugar business, the company said that full-year revenue is expected to be 7% ahead of last year.

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

(END) Dow Jones Newswires

September 13, 2021 02:37 ET (06:37 GMT)

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