Strong sales at Primark boost profits for AB Food February 22, 2010 STRONG sales at cut price clothing retailer Primark have helped fuel a “substantial rise in profits” for parent company Associated British Food. The London-based group yesterday said in a trading update it expected a jump in half-year earnings and a strong full year. Its 196-strong discount chain Primark saw an eight per cent rise in [...]
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, [...]
Primark fuels sales growth at Associated British Food February 22, 2010 PRIMARK growth has helped to fuel a predicted “substantial rise in profits” at parent company Associated British Food. The London-based group said in a trading update it expected a jump in half-year earnings and a strong full year. Its 196-strong discount chain Primark saw an 8 per cent rise in sales – with stores in [...]
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 sales surge thanks to boom in budget fashions January 14, 2010 PRIMARK owner Associated British Foods (ABF) revealed healthy trading figures yesterday – mainly thanks to the budget fashion arm. Primark’s 196-strong chain saw sales rise 19 per cent in the 16 weeks to 2 January, with house broker Panmure Gordon estimating a seven per cent like-for-like sales rise as consumers made their way to its [...]
What lies beneath November 9, 2009 WHEN rumour broke that law firm Clifford Chance’s female employees were being given a £90 allowance to buy fresh knickers after all-nighters at the office, our first thought, perhaps worryingly, was not for their wellbeing. Instead, we couldn’t help but wonder just what City women are wearing under their suits, such that nothing short of [...]
ABF cheers as Primark sales surge November 3, 2009 BUDGET fashion store Primark yesterday reported a surge in sales, boosting profits at parent firm Associated British Foods and offsetting weaknesses in other divisions. Primark has recently embarked on a massive expansion, opening 12 stores in the year, to take advantage of consumers trading down to lower priced clothes. The firm, which now has 191 [...]
M&S clothing slips into third place October 8, 2009 Marks & Spencer has fallen into third place among Britain’s fashion retailers in terms of volume of clothes sold, trailing behind George at Asda and Primark, according toTNSFashion Trak. M&S fashion sales have suffered as consumers switched to cheaper rivals during the recession.
BEST OF THE BROKERS September 27, 2009 DSG INTERNATIONALMorgan Stanley downgraded DSG International to “underweight” and recommended investors take profits following the 50 per cent price increase over the last three months. The broker said that, although it believes that DSGI offers more leveraged upside in a consumer recovery than any other stock it covers, its bull case scenario playing out looks [...]