AB Foods sees substantial rise in earnings

LONDON (Reuters) - Associated British Foods Plc (ABF.L), the Primark fashion stores owner and Silver Spoon sugar refiner, on Monday 22 February said its half year adjusted earnings will show a substantial rise and see very good progress for the year.

The London-based foods and retail group, 55 percent owned by the family of its chief executive, George Weston, said trading at Primark was ahead of its expectations driven by a strong performance from its 14 Spanish stores and an 8 percent rise in like-for-like sales.

The group which also markets Twining tea, Ovaltine drinks and Kingsmill bread was giving its routine trading update ahead of its half-year end on February 27 and ahead of its half-year results on April 20.

(Reporting by David Jones)