AB Foods share price: Group posts trading update
Associated British Foods (LON:ABF) today issued a trading update for the 40 weeks to 20 June 2015.
**Highlights from the company’s statement:**
Trading performance: Group revenue for the 40 weeks ended 20 June 2015 was 2% ahead of the same period last year at constant currency, and was level at actual exchange rates.
During the current financial year, against a basket of currencies, the euro has weakened significantly and the US dollar and sterling have both strengthened. Movements in currency exchange rates in the current financial year have primarily affected the translation of overseas results into sterling, the full year impact of which is still expected to be in the order of £25m if current rates persist.
Our earnings expectation for this financial year is unchanged and reflects a modest decline in adjusted earnings per share for the group for the full year.
Looking ahead: As previously indicated, the impact of currency on results for the next financial year will be more significant than this year and arises from transactional currency exposures, primarily in British Sugar and Primark.
**More to follow…**
As of 07:21 BST, Thursday, 09 July, Associated British Foods plc share price is 2,931.00p.
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