Sep 11, 2017

Primark boosts AB Foods' profits

Strong trading at Primark has allowed the owner of the discount clothing chain, Associated British Foods, to raise its full-year results outlook. AB Foods said its adjusted operating profit would be "Well ahead of last year", after Primark enjoyed good trading in the run-up to Easter. Despite the upbeat outlook, shares in AB Foods fell 1.3% in early trade. In the FTSE 250 index, shares in troubled infrastructure firm Carillion fell 5% after it announced a number of management changes, including the departure of its chief financial officer, Zafar Khan. In July this year, shares in Carillion plunged after it issued a profit warning and announced the departure of its chief executive.

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