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LONDON, Sept 9 (Reuters) - Associated British Foods maintained its guidance for the 2018-19 year, forecasting good profit performances at its Primark fashion chain and grocery business would offset a decline in its sugar operations.
The group, which also owns agriculture and food ingredients businesses, forecast adjusted earnings per share in line with 2017-18's 134.9 pence.
It said full year sales at Primark, which accounts for about half of group revenue and profit, are expected to be 4% ahead of last year, driven by increased selling space partially offset by a 2% decline in like-for-like sales.
The group said it continued to win market share in Britain, despite a like-for-like sales decline of 1%.
AB Foods said its businesses had completed all practical preparations for Britain leaving the European Union and contingency plans were in place should it experience disruption at the time of exit.
Shares in AB Foods, which is majority owned by the family of Chief Executive George Weston, have increased 15% so far this year. They closed Friday at 2,354 pence, valuing the business at 18.7 billion pounds. (Reporting by James Davey, Editing by Paul Sandle)