Associated British Foods Share Discussion Threads

[philanderer] 26/4/2023 08:44

Those results have gone down like a bowl of sick.

[tlobs2] 26/4/2023 07:16

The same applies for WTB who had excellent results yesterday with the share price rising significantly. Today they are dragging it back down.

If results are going to be inline with previous predictions or better than previous predictions what's the problem?

Every cloud ..... it means more shares can be bought back today ;-)

[philanderer] 25/4/2023 09:10

Shore Capital was unperturbed. It kept its ’buy’ recommendation on AB Foods shares. ‘ABF has issued interim FY23 results that confirm delivery ahead of our expectations at the group level (driven by Ingredients) with Retail delivery (Primark) bang in line with our recently upgraded forecast,’ the broker said.

Shore expects to leave its recently upgraded full-year forecasts for AB Foods unchanged.

ajbell.co.uk

[tlobs2] 25/4/2023 08:01

Associated British Foods PLC said Tuesday that adjusted operating profit for the first half of fiscal 2023 fell, but backed its full-year guidance amid robust sales growth and less volatile inflation, and raised its dividend payout.

The British conglomerate posted an adjusted operating profit----which strips out exceptional and other one-off items--for the 24 weeks ended March 4 of 684 million pounds ($854 million) compared with GBP706 million for the year-earlier period.

The FTSE 100 listed company's revenue came in at GBP9.56 billion from GBP7.88 billion for the year-earlier period.

Primark sales rose to GBP4.23 billion from GBP3.54 billion, in line with guidance of around GBP4.2 billion.

The board declared an interim dividend of 14.2 pence a share, up from 13.8 pence declared a year ago.


# # The share price then drops 6%, bizarre ! # #

[tlobs2] 25/4/2023 06:16

Excellent performance ABF :-)

So watch them drag the price down ....

[skinny] 25/4/2023 06:04

Summary of Group performance

Food


-- Sales increased across all businesses, up 23% in aggregate to GBP5,332m
-- Adjusted operating profit up 13% to GBP373m
-- Exceptionally strong adjusted operating profit performance in Ingredients,
up 62%
-- Sugar crop and inflationary challenges offset by strong Illovo performance
-- Grocery adjusted operating profit broadly in line with pricing lagging
input cost inflation as expected
-- Agriculture adjusted operating profit down with difficult animal
feed markets in UK and China

Primark


-- Sales up 19% to GBP4,228m reflecting good growth in all countries
-- Strong like-for-like sales growth driven by price and volume
-- New stores performing strongly
-- Adjusted operating profit of GBP351m, margin of 8.3%
-- US: expansion into southern states to be anchored by new warehouse
-- Announcement of restructuring and growth plan for Germany
-- Digital development continues with rollout of improved website, UK trial of Click and Collect
launched with geographic extension later this year

Shareholder returns


-- GBP140m of the GBP500m share buyback completed in the period

[philanderer] 30/3/2023 11:02

(Alliance News) - Associated British Foods PLC's Primark is to hand its roughly 26,000 retail assistants a pay rise from next week.

The high street giant is to increase the rates of pay for all its hourly paid store staff across England, Scotland and Wales to GBP11 an hour, with this rising to GBP11.51 in London.

The pay rise will represent a 12% increase against the same time last year, it said.

The increase will come into force on April 1, when the new national living wage of GBP10.42 an hour – which applies for all workers aged 23 – comes into effect.

Kari Rodgers, UK retail director at Primark, said: "Our people are vital to the success of Primark and the hard work and commitment of our teams helps to create the Primark our customers know and love.

[tlobs2] 29/3/2023 08:40

Phil, we were at the Trafford Centre last weekend. The new store there is very classy.

It looks like Primarni are going more upmarket. And there were hundreds of shoppers walking round with large paper bags advertising for them!

[tlobs2] 06/3/2023 19:08

Must be after that award of £5m shares to the finance director designate today #shocked

"Grant of conditional award"

I hope that one of the conditions are that he doubles the share price within the next twelve months ;-)

[philanderer] 06/3/2023 14:26

But not this one tl ;-)


Jefferies raises AB Foods price target to 2,000 (1,750) pence - 'hold'

[tlobs2] 01/3/2023 10:18

It looks like HSBC are agreeing with me phil :-)

[philanderer] 01/3/2023 10:01

HSBC raises Associated British Foods to 'buy' - price target 2,530 pence

[philanderer] 28/2/2023 14:04

MAGGIE PAGANO: Primark finds the sweet spot as its designer dupes send social media into a frenzy

[tlobs2] 28/2/2023 11:39

I agree, but 2500p would be better ;-)

[philanderer] 28/2/2023 11:25

Good to see 2000p again .

[philanderer] 28/2/2023 10:52

SocGen raises Associated British Foods price target to 2,150 (1,900) pence - 'hold'

Citigroup raises Associated British Foods price target to 2,100 (1,900) pence - 'neutral'

Goldman Sachs raises Associated British Foods price target to 2,200 (2,040) pence - 'neutral'

JPMorgan raises Associated British Foods price target to 1,760 (1,680) pence - 'neutral'

Barclays raises Associated British Foods price target to 2,300 (2,000) pence - 'equal weight'

Deutsche Bank raises Associated British Foods target to 2,300 (2,180) pence - 'buy'

[philanderer] 27/2/2023 23:54

'Fashion is back', says boss of Primark owner ABF as sales soar despite the cost of living crunch

[tlobs2] 27/2/2023 20:08

Thanks dunns.

It is encouraging that we are only just over a quarter of the way through it :-)

[dunns_river_falls] 27/2/2023 14:56

" initiation of the £500m share buyback programme
with some £140m repurchased to date."

[tlobs2] 27/2/2023 14:14

I hope they put their foot to the floor with their share buy back scheme.

Have any figures been released recently as to how far though that process we are?

[dunns_river_falls] 27/2/2023 11:36

Trading ahead, yet only up in line with the market. Hopefully broker upgrades and a bit of a tailwind will help push this much higher over the next few weeks.

[philanderer] 27/2/2023 10:37

Good update :-)

“Back with a bang” -- Primark on the up as Oxford Street booms

Primark sales to race past £4bn

[tlobs2] 27/2/2023 08:24

Not like ABF to deliver far better results than previously predicted ;-)