December 9, 2016 / 11:13 AM / 8 months ago

BRIEF-Primark owner AB Foods sees "progress" in FY adjusted operating profit and earnings

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Dec 9 (Reuters) - Associated British Foods Plc

* Good underlying trading achieved by our businesses last year has continued into new financial year which has started well-chairman

* Expect expansion of Primark's selling space to continue in all of its major markets- chairman

* AB Sugar will benefit substantially from this year's increase in sugar prices and from reductions in its cost base-chairman

* We expect progress in adjusted operating profit and adjusted earnings for group for this financial year-chairman

* Grocery, ingredients and agriculture are expected to make further progress-chairman

* Expect group earnings to benefit from translation of overseas profits-chairman

* As primark buys much of its merchandise in us dollars and half of its sales are in uk in sterling, there will be an adverse effect, in year, on its uk margins-chairman Source text for Eikon: Further company coverage:

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