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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Associated British Foods    ABF   GB0006731235

ASSOCIATED BRITISH FOODS

(ABF)
  Report  
Delayed Quote. Delayed London Stock Exchange - 09/13 11:35:19 am
2345 GBp   +1.96%
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Associated British Foods : AB Foods Expects Primark Sales to Rise 4% in Fiscal Year 2019; Backs Guidance

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09/09/2019 | 02:34am EDT

By Adria Calatayud

Associated British Foods PLC (ABF.LN) said Monday that sales at its flagship Primark brand are expected to rise 4% at constant and actual exchange rates in fiscal 2019, and backed guidance for the full year.

For the year ending Sept. 14, the company said higher sales at its Primark low-cost fashion chain will be driven by increased selling space, which will be partially offset by a 2% decline in like-for-like sales. In the fourth quarter, Primark sales growth increased and the performance of its of new autumn-winter range has been encouraging, AB Foods said.

Margins at Primark are expected to be lower in the second half, reflecting the effect of a stronger U.S. dollar, AB Foods said. In the first half, Primark's operating margin was 11.7%, ahead of the year-earlier period, the company said.

The food producer and clothing retailer said sugar revenue and adjusted operating profit will be down compared with fiscal 2018, hit by lower European Union sugar prices and a poor crop in China. Grocery revenue is expected to be ahead of last year with adjusted operating profit well ahead, AB Foods said.

The company said it expected adjusted earnings per share to be in line with the prior year for the group as a whole. Strong profit performances from Primark and the group's grocery operations are expected to be offset by the anticipated decline in AB Sugar, the company said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ASSOCIATED BRITISH FOODS 1.96% 2345 Delayed Quote.14.68%
LONDON SUGAR 2.30% 316 End-of-day quote.-5.39%
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Financials (GBP)
Sales 2019 15 786 M
EBIT 2019 1 408 M
Net income 2019 1 032 M
Finance 2019 935 M
Yield 2019 1,99%
P/E ratio 2019 18,0x
P/E ratio 2020 15,7x
EV / Sales2019 1,11x
EV / Sales2020 1,03x
Capitalization 18 452 M
Chart ASSOCIATED BRITISH FOODS
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Technical analysis trends ASSOCIATED BRITISH FOODS
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 2 699,72  GBp
Last Close Price 2 343,00  GBp
Spread / Highest target 38,7%
Spread / Average Target 15,2%
Spread / Lowest Target -14,6%
EPS Revisions
Managers
NameTitle
George Garfield Weston Chief Executive Officer & Executive Director
Michael G. McLintock Chairman
John George Bason Executive Director & Finance Director
Javier Ferrán Senior Independent Non-Executive Director
Emma Susan Adamo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ASSOCIATED BRITISH FOODS14.68%22 974
NESTLÉ S.A.37.82%310 180
MONDELEZ INTERNATIONAL35.10%77 991
DANONE29.25%57 032
THE KRAFT HEINZ COMPANY-32.04%35 685
GENERAL MILLS38.60%32 570