Associated British Food is our top large-cap pick for 2012, and believe this statement supports our thesis of strong earnings per share growth this year, albeit second-half weighted. We strongly reiterate our “buy” recommendation.
MARTIN DEBOO | INVESTEC
This felt like a decent quarter to us, with Primark and Sugars to the fore, as we expected. But we are not being encouraged upwards from our current full year earning per share of 84.9p, despite a likely upgrade to Sugars numbers.
DARREN SHIRLEY | SHORE CAPITAL
Associated British Foods has issued an encouraging first quarter trading update, in our view...We reiterate our “buy” recommendation, currently the favoured pick in our large-cap coverage list.