We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Associated British Foods Plc (PK) | USOTC:ASBFY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0201 | -0.07% | 30.79 | 30.77 | 31.94 | 31.98 | 30.78 | 31.43 | 6,460 | 21:00:11 |
By Joe Hoppe
Associated British Foods PLC said Thursday that its fiscal 2022 adjusted operating profit and adjusted earnings per share are expected to surpass the previous year's on strong sales growth, and that it anticipates rising sales, but declining profit, in fiscal 2023.
The U.K. conglomerate said fiscal 2022 group revenue is expected to be well above the 13.88 billion pounds ($16.01 billion) in the prior year.
ABF's Primark business's total sales for the year ending Sept. 17 are expected to be around 40% above the previous year's, at about GBP7.7 billion with a full-year operating margin of 9.6%, reflecting the end of coronavirus-related restrictions and normalization of consumer behavior, the company said.
The company reported higher food-business revenue, reflecting price actions and some volume increases, particularly in ingredients.
For fiscal 2023, ABF expects significant growth in sales, though it foresees declines in adjusted operating profit and adjusted earnings per share. Food-business profit is expected to rise, though declining consumer disposable income and a commercial decision to limit further pricing actions will hit the operating profit margin for Primark, the company said.
The board will consider in November whether it has surplus cash and capital to return to shareholders, it said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 08, 2022 02:48 ET (06:48 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year Associated British Foods (PK) Chart |
1 Month Associated British Foods (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions