UK food giant ABF is mulling Tilda takeover November 26, 2013 ASSOCIATED British Foods (ABF) was reported yesterday to be mulling a bid to take over rice producer Tilda for £250m. The British food giant, which already owns Primark and Twinings, is said to be interested in the popular rice brand, according to Sky News. The Thakrar family, which owns Tilda, are contemplating a sale, and [...]
Dutch software maker for top UK firms taken private for €1bn November 18, 2013 THE PRIVATE equity backer of UK sofa store DFS yesterday agreed to take a Dutch software provider for businesses like EDF Energy and Lloyds Bank private for about €1.2bn. Advent International, which also owns share service Equiniti, has agreed to buy listed firm Unit4 at €38.75 a share, giving shareholders a 55 per cent premium [...]
Bottom Line: Hot competition in retail revolution November 5, 2013 PRIMARK doesn’t sell food, but if it did, it’s unlikely the range would compete with Marks & Spencer. Unfortunately for the 129-year-old high-street stalwart, its younger rival does sell clothes – a lot of them. Yesterday’s contrasting results from the two retailers were a stark reminder of just how much the British high street has [...]
Primark profits steal the show at AB Foods November 5, 2013 ASSOCIATED British Foods (ABF) said yesterday that “remarkable” results at its discount clothing chain Primark helped the FTSE 100 giant report a 13 per cent jump in profits. Primark’s adjusted operating profit rose 44 per cent to £514m in the year to 14 September, overtaking the £435m of profits at ABF’s sugar division, which was [...]
Primark profits surge as AB Foods reports strong growth November 5, 2013 Associated British Foods (ABF) has reported adjusted profit before tax of over £1bn, up 13 per cent for the financial year to 14 September. Primark, the retail arm of the group, had a particularly strong year, increasing profit by 44 per cent and added 10 per cent to its estate. (Release) Primark's total sales rose [...]
M&S sales continue to fall as Bolland has to hope for tenth time lucky November 5, 2013 Marks and Spencer has said this morning that its transformation is on track, although profits were 8.9 per cent lower at £261.1m during the six months to the end of September – the company's ninth reported loss. (Release) Analysts had predicted a 12 per cent decline in profits for the first half of the year, [...]
Primark and Loblaw pay out to factory victims in Bangladesh October 24, 2013 BRITISH clothes retailer Primark and Canadian grocer Loblaw laid out plans yesterday to pay more compensation for the collapse of a Bangladeshi factory that killed almost 1,130 people, as protesters demanded that other brands follow suit. The disaster on 24 April has galvanised most of the clothing industry’s big names to try to improve safety [...]
Best of the Brokers for 15 October 2013 October 14, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com TRAVIS PERKINS Bank of America Merrill Lynch raised its target price from 1460p to 1900p and changed its rating from “underperform” to “buy” in a double upgrade that sent shares up nearly five per cent yesterday. The broker believes the builders’ merchant is [...]
Best of the brokers for 19 September 2013 September 18, 2013 ASSOCIATED BRITISH FOODS Morgan Stanley has started covering the food-to-sugar conglomerate with an “overweight” rating and a target of 2,140p. The broker reckons ABF is one of the strongest growth firms in the European staple stocks, driven by Primark’s enormous sales increases. LEGAL & GENERAL Canaccord Genuity keeps its “hold” recommendation and raises its target [...]
Primark growth boosts AB Food full-year profits September 9, 2013 ASSOCIATED British Foods (ABF) said yesterday it expects to post forecast- beating profits for the second half of the year as sales at the discount clothing chain Primark continue to surge. Full-year sales at Primark, which accounts for about a third of the group’s profit, are expected to be 22 per cent ahead of last [...]