Analyst Views: How has AB Foods’ update impacted your outlook for the year? September 9, 2013 MARTIN DEBOO | INVESTEC“This year is set to beat expectations on a strong finish from Primark…But in the other major profit centre of sugars the outlook in 2014 and beyond is downbeat, with EU sugar prices falling fast and further pricing pressures elsewhere …We expect to be upgrading our 2013 numbers a tad but downgrading [...]
Primark expects higher profits on stronger sales and store openings September 9, 2013 Associated British Foods has announced that "operating profit for the second half will be ahead of expectations" as results are boosted by a strong performance from fashion retailer Primark. Sales at Primark for 2013 are now expected to be 22 per cent higher than the last at actual exchange rates. Here's what they put the [...]
It’s time we ended the pretence that planning rules come without a price September 6, 2013 MOST agree that the UK housing market has long been stuck in an affordability crisis. Despite a fall in prices since 2007, Nationwide recently calculated that the typical house now costs 5.1 times average earnings, up from 3.9 a quarter of a century ago. In London, the ratio has risen from 5.7 to 7.7. And [...]
Kennedy Wilson and Varde buy UK shopping centres for £250m September 5, 2013 US PROPERTY investment and services firm Kennedy Wilson and debt specialist Varde Partners yesterday agreed to buy a portfolio of eight UK shopping centres out of administration for $388m (£250m). Kennedy Wilson did not disclose which shopping malls they had acquired but said they were spread across England and Scotland and spanned a total of [...]
Best of the brokers for 04 September 2013 September 3, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS BNP Paribas has raised its rating on the conglomerate that owns Primark from “underperform” to “outperform” and pushed its target price from 1,728p to 2,400p. The broker believes that AB Foods’ sugar business is poised to benefit from changing market [...]
It’s time we ended the pretence that planning rules come without a price September 2, 2013 MOST agree that the UK housing market has long been stuck in an affordability crisis. Despite a fall in prices since 2007, Nationwide recently calculated that the typical house now costs 5.1 times average earnings, up from 3.9 a quarter of a century ago. In London, the ratio has risen from 5.7 to 7.7. And [...]
Primark is wise to remain offline April 26, 2013 SO many retailers have been trumpeting their online success in recent weeks – with the internet now more profitable than the high street for Debenhams, and John Lewis’ annual website sales topping £1bn – that it’s something of a surprise to be presented with old-fashioned bricks and mortar success. But that’s what Primark delivered yesterday, [...]
Primark sales boost Associated British Foods’ first half earnings February 25, 2013 ASSOCIATED British Foods (ABF) said an “outstanding” performance from the conglomerate’s budget fashion chain Primark will help lift first-half profits ahead of the £412m reported last year. The FTSE 100 group expects Primark sales to be up 23 per cent in the six months to 2 March, with like-for-like sales anticipated to be seven per [...]
FTSE shrugs off downgrade February 25, 2013 THE blue chip index rose this morning – led by headline mining and banking shares – on signs that the US and Japan would continue loose monetary policy for some time. The FTSE 100 was up 0.7 per cent in early deals, as the market brushed off Moody’s downgrade of the UK’s AAA credit rating, [...]
Primark boosts AB Foods outlook February 25, 2013 ASSOCIATED British Foods forecast higher results this year than last, driven by an “outstanding” performance from subsidiary Primark. Adjusted operating profit will be higher than last year, while earnings per share for the first half will be “substantially” ahead of last year, AB Foods said this morning in a trading update. Primark sales in the [...]