This still looks cheap down here - they have coped with Shein as a competitor, non retail divisions now humming.
Intend to add lower, if available. |
FWIW :-
Barclays raises Associated British Foods price target to 2,700 (2,400) pence - 'equal weight' |
I bought in today, just love the fundamentals and balance sheet, just wished I studied this ABF sooner!! |
Oh go away you desperate ramper, nothing to do with ABF. |
Bought GNC [LSE] today , dividend announcement next month |
If Carlsberg did Interim Results......
Not much, not to like. |
You can't ask for a much better update than that. Well done :-) |
Primark owner Associated British Foods releases interim results on Tuesday (23 April) having already predicted a year of ‘meaningful progress in both profitability and cash generation’ notes broker ShoreCap.
Since then, there have been quite mellow non-food sales {Primark] reported across the UK, with the wet weather having an adverse impact.
“Grocery is more settled with easing inflation, rising promotions and improving volumes,” adds the broker.
ShoreCap added it raised its 2024 forecasts in January and is looking for clean pretax profits of £1,787m and EPS of 174.5p against consensus of 180.6p.
“With a very strong balance sheet providing significant optionality, we find the current equity ratings undemanding,” the broker, which has a ‘buy’ rating on the shares.
proactiveinvestors.co.uk |
FWIW :- RBC raises AB Foods price target to 2,700 (2,650) pence - 'outperform' |
tl, it's getting interesting :-)
UK retailers given hope of ‘green shoots of recovery’ after Easter pickup |
I tell you Phil, Shein will have an eye on buying Primarni for mega bucks ! |
Fast fashion retailer Shein doubles profits as it awaits IPO approval |
And again today. Long may it continue :-) |
Nice rise today - getting back to £30?
Suet |
Primark adding stickers to bags to stop shoplifters from walking out of stores with stolen goods
A Primark spokesperson said the firm would not be disclosing which branches have made the change. |
Primark to raise UK store workers' pay by 9.1% |
Retailers suffer in wettest February on record |
Well they certainly will have the firepower.
Suet |
So how long will it be before Shein put in a bid for the entire Primark operation from ABF? |
(Sharecast News) - Fast fashion retailer Shein was said to be looking at switching its proposed $90.0bn initial public offering from New York to London as a result of regulatory hurdles to the listing in the US.
According to Bloomberg, citing people familiar with the matter, Shein, founded in China but headquartered in Singapore since 2022 for regulatory reasons, was in the early stages of exploring its options in London as it deems it unlikely that the Securities and Exchange Commission will approve its US IPO. |
London Ev Standard
Retail sales grow at fastest pace since 2021 in sign that ‘economy soon moving out of recession’ |
ABF has become my largest portfolio holding by value tonight. WTB down to number two, VSVS three :-) |
Looks like mastey hasn't spooked the markets too much this morning ;-) |
Going to sell on Monday my ABF position, along with Unilever and a couple more , UK listed equities that have global interests.
Just totally fed up of the ridiculous valuations UK GLOBAL LARGE CAP listed cos are obtaining.
The proceeds will be invested into fixed income but also a small cap fund that has holdings that I expect will be purchased at huge premiums, because of the crazy Uk valuations, poor liquidity and of international focused UK asset managers . |
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