Primark import costs expected to hit sales margins February 26, 2017 Primark's tightening margins could cause concern for its owner, Associated British Foods (ABF) and shareholders next week when the company releases its next trading update. Import costs have risen for the clothing retailer since the pound weakened, with 3 in every 4 of Primark's purchase invoices being billed in US dollars. Yet the budget brand [...]
Not hampered: Fortnum & Mason posts record Christmas results January 13, 2017 Fortnum & Mason enjoyed a record festive period, as customers flocked to high-end Christmas gifts, including the retailer’s signature hampers. The figures Like-for-like sales up to 1 January increased by 16 per cent on the previous year, driven by a 22 per cent increase in online sales for the year. Indeed, Fortnum’s online trading contributed [...]
Primark owner’s share price drops as like-for-like sales in doubt January 12, 2017 Associated British Food's (ABF) share price fell three per cent in morning trading as the Primark owner gave the market few details on its like-for-like sales growth. The figures In its first quarter trading update, ABF said Primark's sales were up 11 per cent at constant currency and that "the UK performed well". However, the [...]
Associated British Foods shoots to the top of FTSE 100 as revenues lift at the Primark and British Sugar owner November 8, 2016 Associated British Food's (ABF) share price rose more than seven per cent this morning, taking it straight to the top of the FTSE 100, as the Primark owner posted a rise in revenues and hailed 2016 as a "turning point" for its sugar business. The retailer added that it hopes to benefit from Brexit and is in discussions [...]
FTSE 100 dips to a six-week low on US rate hike fears September 12, 2016 Shares on the FTSE 100 fell to their lowest since the beginning of August today, as investors showed their nerves over a potential rate hike. After ending last week 1.7 per cent lower than it started, the index was 1.4 lower in mid-afternoon trading, at 6,685 points The fall was led by Primark owner Associated British Foods (ABF), which [...]
Primark owner Associated British Foods warns Brexit-related currency volatility could hurt profit margins in the new year September 12, 2016 Primark owner Associated British Foods (ABF) has been feeling the benefits of post-Brexit currency volatility since June – but warned that it may start to see a negative impact in the new financial year. Shares in the company have dropped by 10.68 per cent so far today. [stockChart code="ABF" date="2016-09-12 15:25"] The company said [...]
Sugar sales and weak pound sweeten revenues at Associated British Foods July 7, 2016 Revenue growth at Associated British Foods (ABF) has been sweetened by the retail giant's sugar business and a weakened pound has created favourable trading conditions across the board. The figures Group revenue at the Twinings Tea, Ovaltine and Primark owner was up one per cent year-on-year in the 40 weeks to June 18, the company said [...]
Primark parent Associated British Food’s share price rises as profits climb but currency woes take their toll April 19, 2016 Profits were up across the board at Associated British Foods for the first half of the year – but currency woes have hurt top line growth. The figures Group revenue for the Weston-owned business stood at £6.12bn over the 24 weeks to 27 February, down two per cent on an actual basis or up two [...]
Sweet tooth for peckish Primark-owner Associated British Foods as it snaps up Africa’s largest producer of sugar April 8, 2016 Primark-owner Associated British Foods (ABF) has finally filled a long-standing hole this morning, completing a £262m purchase of Illovo Sugar Limited, Africa's largest producer of the sweet stuff. The extra calories failed to put much energy behind ABF shares in London, however, with the firm up just 0.41 per cent to 3,401p in the first minutes [...]
Primark parent Associated British Foods says half year figures will be better than expected as currency headaches lift February 22, 2016 Primark parent company Associated British Foods has said its half year results should come in slightly better than expected, as currency woes have partially lifted. The group said it expected "some progress" in adjusted operating profit for the six months to 27 February, but said adjusted earnings per share would come in slightly lower – a [...]