Primark’s full-year profit seen at top end of guidance after strong trading

LONDON (Reuters) – Associated British Foods said on Monday it expects full-year profit at its Primark fashion chain to be at least at the top end of its previously guided range after trading in its latest quarter exceeded expectations.

In July the group forecast adjusted operating profit for Primark in a range of 300-350 million pounds ($396-$462 million) in the full year to Sept. 12, down from the 913 million pounds the previous year.

AB Foods also said trading in its food businesses had exceeded expectations in its fourth quarter, and forecast a much improved year-on-year profit performance in its sugar division.

(Reporting by James Davey; Editing by Jan Harvey)