Pri­mark owner to take £20m hit

Yorkshire Post - Business - - BUSINESS / NEWS -

Re­tail: Pri­mark owner As­so­ci­ated Bri­tish Foods has warned it will take a £20m hit due to the stronger pound. While its full year out­look for the group is un­changed – with “progress” ex­pected in ad­justed op­er­at­ing prof­its and ad­justed earn­ings per share – un­favourable ex­change rates are ex­pected to drag on re­sults.

The cost of re­plac­ing the Belfast Pri­mark store which was de­stroyed by fire will be cov­ered by in­sur­ance, the com­pany said.

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