IN BRIEF (Page 17)

AB Foods beats forecast

Primark owner Associated British Foods beat forecasts with a 5 percent rise in full-year earnings yesterday driven by growth at its fashion chain and sugar sales and sees good profit and sales growth this year.

The London-based group said the sale and speed of the economic recovery remain uncertain and added it is cautious about the outlook for the UK consumer over the next year. AB Foods posted adjusted earnings of 57.7 pence a share for the year to Sept 12 compared to a consensus forecast of 56.1 pence collated by Thomson Reuters and a range between 54 and 57.3 after last year's figure of 54.9 pence.