Even Primark can’t save Associated British Foods from a drop in profits this year, as sugar and currency woes hit the business hard September 7, 2015 Associated British Foods (ABF) has confirmed its adjusted operating profit will decline for the full year as its has failed to offset challenges in its sugar division and currency headwinds. Operating profit at constant currency will be ahead of last year for grocery, agriculture, ingredients and retail, ABF said this morning. The firm's share [...]
After US launch Primark heads for Italy; opening first stores in Milan next year July 10, 2015 Primark is so inspired by its "Primarni" nickname, it's entering the Italian market ahead of schedule, it said today. The fashion brand will open the first of up to three Italian stores in Milan next summer, according to owner Associated British Foods. Shares in the group rose, following a trading update reporting a “modest decline” [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Primark sales climb – but sugar division remains bitter for Associated British Foods February 23, 2015 Associated British Foods is expecting good things from Primark when it reports its full year figures in April – but its sugar division continues to dampen the group's overall performance. The fast fashion chain is ABF's jewel in the crown. Sales are expected to be up 16 per cent on last year, with “very [...]
Primark sales up but Associated British Foods warns strong pound will weigh on earnings February 23, 2015 Associated British Foods (ABF), the owner of the Primark clothing chain, warned investors today that a strong pound would likely lead to a “marginal decline” in adjusted earnings per share for the full year. Sales at its Primark division are expected to grow thanks to strong Christmas sales and expansion into Europe – [...]
Primark sales soar 15pc but Associated British Foods warns lower sugar prices will hit profits January 15, 2015 Primark will not do enough to offset the fall in sugar prices and currency headwinds for parent company Associated British Foods, which is expecting a "marginal decline" in adjusted earnings per share for the year. Total revenues at ABF grew three per cent for the 16 weeks to 3 January, with Primark providing the bulk [...]
Associated British Foods share price rises as Primark revenues jump November 4, 2014 Shares in Primark parent company Associated British Foods (ABF) rose 1.65 per cent in early trading, as a "magnificent year" for Primark helped create record increases in earnings and profit before tax in its full-year results today. ABF chief executive George Weston said: “Primark’s trading success and significant expansion delivered another magnificent year.” [...]
Even Primark sales aren’t sweet enough to save Associated British Foods from a 4pc share price slump September 8, 2014 Associated British Foods (ABF) went on the offensive in a trading update this morning, saying it expects strong Primark sales to contribute to an increase in adjusted earnings per share for the year ending September 13 – but that wasn't enough to stop shares falling 4.4 per cent in early trading as investors worried about [...]
Associated British Foods adjusts earnings guidance as Primark profits rise July 10, 2014 Associated British Foods (ABF) has raised its annual earnings guidance after a 22 per cent rise in sales from its budget fashion brand Primark offset the continued weakness of the sugar market. ABF now said it expected its adjusted earnings per share to be above the 98.9 pence paid in 2012-13. Previous guidance had indicated [...]