Associated British Foods posted a slightly better-than-expected set of results for the year ended Sept. 18, RBC Capital Markets says. Ebit for the Primark and Sugar divisions was better than forecast, whereas Grocery, Ingredients and Agriculture delivered in line with expectations, the bank says. In addition, the special dividend of 13.8 pence a share wasn't expected, RBC says. Moreover, ABF expects Primark sales to increase by at least the GBP2 billion lost because of closed stores in the last fiscal year, the bank's analysts note. RBC has an outperform rating on the British conglomerate with a 2,300 pence price target. (jaime.llinares@wsj.com)

(END) Dow Jones Newswires

November 09, 2021 03:06 ET (08:06 GMT)

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