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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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Real-time Estimate Quote. Real-time Estimate CHI-X - 09/24 07:33:49 am
1872 GBX   +0.05%
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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 PLC -0.05% 1870 Delayed Quote.-27.98%
EURO / US DOLLAR (EUR/USD) -0.12% 1.16433 Delayed Quote.4.41%
JUST GROUP PLC -0.25% 44.67 Delayed Quote.-43.32%
NEXT PLC -0.56% 6076 Delayed Quote.-12.94%
RISE, INC. 0.00% 26 End-of-day quote.-13.33%
SPACE CO.,LTD. 3.11% 863 End-of-day quote.-32.42%
WILL GROUP, INC. -6.31% 876 End-of-day quote.-30.03%
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Financials
Sales 2020 14 270 M 18 181 M 18 181 M
Net income 2020 451 M 575 M 575 M
Net Debt 2020 2 434 M 3 101 M 3 101 M
P/E ratio 2020 33,6x
Yield 2020 1,52%
Capitalization 14 760 M 18 828 M 18 805 M
EV / Sales 2020 1,20x
EV / Sales 2021 1,04x
Nbr of Employees 138 000
Free-Float 43,6%
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Technical analysis trends ASSOCIATED BRITISH FOODS PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 2 304,55 GBX
Last Close Price 1 871,00 GBX
Spread / Highest target 64,1%
Spread / Average Target 23,2%
Spread / Lowest Target -27,8%
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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