AB Foods 3Q Revenue Rose as Primark Sales Were Above Prepandemic Levels
June 20 2022 - 2:00AM
Dow Jones News
By Michael Susin
Associated British Foods PLC said Monday that revenue for the
third quarter increased, helped by stronger pricing in ingredients,
and said that Primark revenue was above prepandemic levels.
The British conglomerate posted revenue for the period ended May
28 of 4.05 billion pounds ($4.95 billion), up 32% compared with the
same period a year ago at constant currency.
The FTSE 100 listed company said that Primark revenue increased
81% to GBP1.73 billion as all stores were open during the period.
Sales in the quarter were 4% above prepandemic levels three years
ago, it said.
Primark is on track to deliver an adjusted operating profit
margin of 10% for the full year, the company said.
Total food businesses revenue rose 10% to GBP2.32 billion due to
pricing actions taken to recover input cost inflation, it said.
AB Foods said full-year guidance remains unchanged.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
June 20, 2022 02:45 ET (06:45 GMT)
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