WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2010 FINANCIAL TIMES BP TO PRESS ON WITH CANADA OIL SANDS PLAN BP will press ahead with its plan to invest in Canada’s controversial oil sands, the company will signal at Thursday’s annual general meeting, in spite of protests from environmentalists and concerns among some shareholders. More than 140 investors have backed a resolution calling for [...]
Primark to beat retail gloom September 21, 2009 Primark is set to become a major European force as retailers offering low-cost goods thrive in the recession, according to research out today by Verdict analysts. Verdict predicts the European retail sector will shrink by 5.2 per cent to in 2009, but that value retailers will outperform the market.
Primark to beat retail gloom September 21, 2009 Primark is set to become a major European force as retailers offering low-cost goods thrive in the recession, according to research out today by Verdict analysts. Verdict predicts the European retail sector will shrink by 5.2 per cent to in 2009, but that value retailers will outperform the market.
Primark founder steps down September 13, 2009 Arthur Ryan, the founder of clothing retail giant Primark, has stepped down as chief executive officer after 40 years at the helm. The 74-year-old Irishman is succeeded by Paul Marchant, who was Primark’s chief operating officer. Marchant joined Primark in January from New Look, and has also worked for Debenhams, Topman and River Island. Ryan [...]
Primark founder steps down September 13, 2009 Arthur Ryan, the founder of clothing retail giant Primark, has stepped down as chief executive officer after 40 years at the helm. The 74-year-old Irishman is succeeded by Paul Marchant, who was Primark’s chief operating officer. Marchant joined Primark in January from New Look, and has also worked for Debenhams, Topman and River Island. Ryan [...]
Primark sales boost shares in AB Foods September 7, 2009 STRONG demand for cheap clothes yesterday prompted Primark owner Associated British Foods to hike its full-year earnings forecasts. AB Foods finance director John Bason said Primark like-for-like sales rose by seven per cent in the six months to 12 September, in contrast to declining sales at high street rivals such as Marks Spencer and Next. [...]
Shareholders should hold tight February 22, 2010 TRADING updates don’t get more bullish than this. Associated British Foods yesterday said that first half profit would be “substantially higher” than last year in all divisions, with the exception of its agriculture business (even this is an anomaly, as grain prices were unusually high in 2009). That growth will continue in the second half, [...]
THE TIPSTER TIME TO GO DEFENSIVE IN YOUR PORTFOLIO February 21, 2010 VOLATILITY has been rising since the start of this year and all of these extreme moves can make investors dizzy. Now is a good time to switch to a more defensive stance on equities and invest in the likes of supermarkets and energy providers. These companies tend to perform strongly when risk aversion returns to [...]
BEST OF THE BROKERS January 17, 2010 ASSOCIATED BRITISH FOODS Evolution Securities has upgraded its target price to 950p on its “buy” recommendation of ABF. Despite a recent rally, Evo said the company “still looks compelling value” with earnings forecast at 66p. It said all three of ABF’s largest divisions (Primark, Grocery and Sugar) are firing on all cylinders, and expects further [...]
Primark growth accelerates July 9, 2009 DISCOUNT fashion retailer Primark saw its third-quarter growth accelerate, helped by good weather and the attraction of its low prices in a downturn, but its owner Associated British Foods held to its flat year earnings forecast. The 190-strong stores division reported its sales rose 21 per cent in the 16-week quarter to 20 June, and [...]