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

ASSOCIATED BRITISH FOODS PLC

(ABF)
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Associated British Foods : AB Foods forecasts earnings growth in 2019-20 year

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12/06/2019 | 02:45am EST

Associated British Foods on Friday kept its forecast for earnings growth in its 2019-20 year with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain.

For Primark, which generates about half of AB Foods' revenue and profit, the group forecast a small reduction in full year margin with the effect of weaker sterling on purchases being largely offset by cost reductions in both the cost of goods and overheads.

"We still expect progress, on both a reported and an IFRS 16 adjusted basis, in adjusted earnings per share for the group for this financial year," Chairman Michael McLintock said in a statement ahead of AB Foods' annual shareholders' meeting.

Analysts' average forecast for 2019-20 EPS is 148 pence, according to Refinitiv data, up from 137.5 pence made in 2018-19.

Shares in AB Foods, the majority of which are owned by the family of CEO George Weston, have increased 22% so far this year. They closed on Thursday at 2,497 pence, valuing the business at 19.7 billion pounds.

(Reporting by James Davey; editing by Kate Holton and Alistair Smout)

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Financials (GBP)
Sales 2020 16 418 M
EBIT 2020 1 581 M
Net income 2020 1 145 M
Debt 2020 2 261 M
Yield 2020 1,89%
P/E ratio 2020 18,8x
P/E ratio 2021 17,2x
EV / Sales2020 1,42x
EV / Sales2021 1,33x
Capitalization 20 992 M
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Technical analysis trends ASSOCIATED BRITISH FOODS P
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 2 773,80  GBp
Last Close Price 2 661,00  GBp
Spread / Highest target 22,1%
Spread / Average Target 4,24%
Spread / Lowest Target -23,0%
EPS Revisions
Managers
NameTitle
George Garfield Weston Chief Executive Officer & Executive Director
Michael G. McLintock Chairman
John George Bason Executive Director & Finance Director
Emma Susan Adamo Non-Executive Director
Ruth L. Cairnie Senior Independent Non-Executive Director
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