Primark profits rise by 18pc April 20, 2010 PRIMARK profits have rocketed by 18 per cent to £144m in the past six months, owner Associated British Foods (ABF) has said. Revenues rose 19 per cent to £1.26bn, with like-for-like sales – which do not include figures from new stores – going up by eight per cent. The chain, which has 196 European stores, [...]
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 [...]
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 [...]
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 [...]
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. [...]
Market to eye consumer purse while MPC mulls rates September 6, 2009 THIS week will be all about consumers’ purse-strings and just how tightly they are pulled. Results from across the retail and leisure sectors will go some way to answering that question, while the Bank of England Monetary Policy Committee’s decision on interest rates and quantitative easing will tell us what the experts think about any [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2009 FINANCIAL TIMES DEUTSCHE BANK BACKS €300M SAL OPPENHEIM INJECTIONDeutsche Bank has backed a €300m ($423m) injection of capital for Sal Oppenheim as the two banks continue their talks over a possible equity shareholding. Sal Oppenheim, a 220-year-old institution that claims to be Europe’s largest biggest independent private bank, said the equity injection was made by [...]
Primark founder to step down as MD July 14, 2009 THE publicity-shy founder of Primark, Arthur Ryan, will step down as managing director of the retailer in September. Ryan, who opened its first store in Dublin 40 years ago, is likely to be replaced by Paul Marchant, a former New Look executive and Primark’s chief operating officer. Associated British Foods (ABF), Primark’s parent company, declined [...]