Company
LON:ABF
Associated British Foods is a diversified international food, ingredients and retail group with sales of £10.2 billion and 97,000 employees in 44 countries.
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The firm said Mahmud Kamani, currently its joint chief executive, will become group executive chairman of the company with effect from 15 March 2019
Matthew White’s 23-year tenure at AB Sugar involved working extensively with university partners on collaborative research programmes totalling over £20mln
Analysts long argued that it made little sense for Whitbread to keep both Costa and Premier Inn under the same roof, and calls are growing for AB Foods to spin off Primark, its star asset
AB Foods expects a strong performance in Primark, grocery, agriculture and ingredients businesses to offset a slump in the sugar division
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar
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The week ahead includes annual results from Wetherspoons, Galliford Try and Dunelm along with interims from Morrisons and trading updates from AB Foods and Ashtead
The Footsie closed the day in positive territory, just, but was down on the week as a whole
Some analysts think Primark is being dragged down by AB Foods’ sugar division, which is struggling to deal with a collapse in the price of the sweet stuff
A weakening dollar, coupled with better buying and fewer-than-expected sales mean margins will be “well ahead” in the second half, which should lead to higher profits at the value fashion chain
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FTES 100 was up 38 points to 7,611 in early afternoon trading
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Homes - built by Bovis and Persimmon and listed for sale by Purplebricks - will be in focus on Thursday, as will clothes sold by Primark and SuperDry.
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The week ahead will see quarterly results from Sainsbury's and AB Foods, trading updates from Bovis Homes and Persimmon, and full year earnings from SuperDry
Primark hasn’t suffered as much as some of its high street peers, but sales have started to slow, although the closure of dozens of New Look and House of Fraser stores should help to reverse that trend
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The UK premier share index closed 2.58 points, or 0.03% to stand at 7,631
The UK's premier share index closed down 7.97 points, or 0.10% at 7,704
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One City broker expects CMC to reveal a 22% jump in pre-tax profit in its results tomorrow.
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Aside from a trading update from WH Smith, the Week Ahead will also bring full-year results from the likes of AO World, CMC Markets, Auto Trader, and MITIE Group
The US investment bank has abandoned its bullish position on Primark owner after factoring in the recent exchange rate fluctuation into its valuation
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News that the President will now not be meeting North Korea leader Kim Jong-un next month as planned is weighing on global stocks
Primark is AB Food’s star business and analysis by UBS suggests there is still plenty more room for it to grow into over the coming years
