Associated British Foods said its full-year outlook had marginally improved after a better than expected performance from its Primark clothing chain in the latest quarter. 

Primark trades as Penney's here.

The group, which also has major sugar, grocery, agriculture and ingredients businesses, said it continued to expect to report good growth in adjusted operating profit and adjusted earnings per share (EPS) for the 2016/17 financial year. 

Prior to today's update analysts forecast adjusted EPS for 2016-17 of 123 pence, according to Reuters data, up from 106.2 pence in 2015-16. 

AB Foods said group revenue from continuing businesses for the 40 weeks to June 24 was 10% ahead of the same period last year at constant currency and 20% ahead at actual exchange rates. 

Third quarter revenue growth was 13% at constant currency and 20% at actual exchange rates. 

It said the results to date reflected a material translation benefit from the devaluation of sterling following last year's Brexit vote. 

But it noted that at current exchange rates, the translation benefit would be significantly less in the fourth quarter. 

Primark's third quarter sales were up 15% at constant currency and 21% at actual exchange rates. 

AB Foods said it now expected Primark's full-year operating profit margin to be in line with the first half's 10%, having previously forecast a decline. 

The group is majority owned by the family of chief executive George Weston.