Analyst Views | What do you make of AB Foods’ trading update?

 
Elizabeth Fournier

MARTIN DEBOO INVESTEC SECURITIES
“Like an old car, the quarter had cold-starting problems, as we expected. However, sales have subsequently rebounded, with a likely two to three per cent like-for-like sales growth for the quarter as a whole, slightly ahead of our expectation of two per cent.

GRAHAM JONES PANMURE GORDON
“Very cold weather in March and April led to ‘subdued’ like-for-like (LFL) sales growth, but a marked improvement was seen in May and June and we estimate overall LFL growth in the 16 weeks was three per cent, comfortably ahead of key peers.

ALICIA FORRY CANACCORD GENUITY
“The third quarter has progressed broadly as we expected, with a modest slowdown in Primark like for like sales ... Management reaffirmed that the group is tracking to plan in the year ending September 2013, but beyond that timeline there are some potential clouds on the horizon.