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Associated British Foods PLC Shares News & Articles

Associated British Foods takes bigger Primark sales hit but still forecasts higher profit

Shares in Associated British Foods (ABF) gained 2.3% to £23.56 as the foods-to-fashion conglomerate said it expects to take a bigger sales hit in its Primark business than previously thought due to lockdown, but also sees sales and profit being higher than last year. In an AGM trading update, ABF raised its estimate for lost sales at Primark to £430 million from £375 million previously owing ...

FTSE firms as US goes to the polls, Crest Nicholson surges on upgrade and dividend resumption

London’s FTSE 100 extended yesterday’s gains on Tuesday morning, continuing to recover from last week’s sell-off. Investors braced themselves for the contentious US Presidential Election in which Democrat Joe Biden remains the betting favourite to win. Anticipation is high that he will have a more favourable trade policy with China and the EU, while the market is also counting on more ...

Primark-owner Associated British Foods sees £375 million sales loss from latest lockdowns

Primark-owner Associated British Foods (ABF) has warned its budget clothing chain faces a massive £375 million loss of sales due to store closures mandated under fresh government restrictions across Europe and Boris Johnson’s proposed second lockdown of England. The fashion, groceries and sugar conglomerate also cautioned that ‘uncertainty about further temporary store closures in the ...

Associated British Foods in demand thanks to Primark’s positive earnings surprise

Shares in Associated British Foods (ABF) fattened up 2% to £20.68 on Monday as the conglomerate said fourth quarter trading across both its food businesses and budget fashion arm Primark ‘exceeded expectations’. Having shifted more Primark stock than expected, ‘ABF’ also raised guidance for year-end cash to £1.3 billion. Unsurprisingly however, management still expects earnings for ...
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