Wendy Maeda | The Boston Globe | Getty Images
The completely new Primark store at Downtown Crossing in Boston on Sept. 8, 2015.
Associated British Foods on Tuesday reported a 1 percent fall in first-half profit, using a resilient performance at its Primark fashion business offset by a previously flagged reduction in sugar revenues.
For the six months to March 3 AB Foods, which also owns major ingredients along with grocery businesses, made adjusted operating profit of 648 million pounds ($929 million). of which compares with company guidance of a “flat” outcome along with 652 million pounds made from the first half of its 2016-17 year.
The group maintained its full-year outlook, forecasting “progress” in both adjusted operating profit along with adjusted earnings per share (EPS).