FTSE 100 index falters as the price of oil slides January 14, 2016 The FTSE 100 index opened down this morning as the price of oil continued to linger around $30 a barrel. The UK's blue-chip index opened 1.68 per cent down at 5,860 points. "For the first time this year the FTSE 100 managed to post two positive days in a row yesterday, buoyed by a rebound in [...]
Currency headwinds dampen growth at Primark parent Associated British Foods – but sugar is starting to look sweeter January 14, 2016 Primark parent Associated British Foods has been further buffeted by currency headwinds, with the business expecting it to knock off £25m from full year profit. The figures The group grew revenue three per cent in the 16 weeks to 2 January – but this turned into a two per cent decline when factoring in actual exchange [...]
At the close: FTSE 100 index closes down despite gains by Glencore, Antofagasta, ITV December 21, 2015 The FTSE 100 index closed down today, as losses from Associated British Foods (ABF) and Smith and Nephew were not compensated by gains at ITV, Glencore and Antofagasta. The UK's top blue-chip index closed 0.29 per cent down at 6,034 points ITV led the pack after it emerged Comcast's NBCUniversal was reportedly bidding to takeover [...]
FTSE 100 index opens up as miners and ITV make gains while Associated British Foods, Rolls-Royce and Smith and Nephew fall December 21, 2015 The FTSE 100 index opened up this morning, as losses from Primark owner Associated British Foods (ABF) and Rolls-Royce were compensated for by gains at miners, BG Group and ITV. The UK's top blue-chip index was 0.64 per cent up at 6,052 points in early morning trading. BG Group was 0.97 per cent higher at 916.85p per share [...]
Profits and revenue fall at Primark’s parent company Associated British Foods – but will still pay a dividend November 3, 2015 Primark parent company Associated British Foods (ABF) has said it will still pay a dividend, despite falls in both profit and revenue for the year to 12 September. The figures Adjusted operating profit was down six per cent in real terms, or four per cent on a constant currency basis, to £1.09bn, while group revenue [...]
Best of the Brokers for 20 October 2015 October 20, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS More bad news for Associated British Foods (ABF), as Berenberg analysts downgraded the food processing and retailing company from “hold” to “buy” while keeping the target price at 3,450p. While ABF’s share price has increased by 10 per cent since [...]
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 [...]
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. [...]
FTSE hits a high but slips back despite UK inflation data – London Report March 24, 2015 ANOTHER day, another all-time high was the call yesterday for Britain’s top share index – although it did slip back at the close – and record low UK inflation data kept investors confident over the market’s longer-term prospects. The blue-chip FTSE 100 index rose as much as 0.4 per cent to a record intraday high [...]
Associated British Foods feasts on Primark but diets on sugar February 23, 2015 SHOPPERS snapping up more bargains at Primark over the last eight weeks helped to offset a weak performance at Associated British Foods’ (ABF) sugar business, the consumer giant said yesterday. Sales at clothing retailer Primark in the half-year to 28 February are expected to rise by 16 per cent on a constant currency basis, due [...]