businesses of Silver Spoon, Westmill Foods, Jordans Ryvita , AB World Foods Allied Bakeries, Kingsmill Allinsons (bread), Primark , Mazola (corn oil), Twinings (tea) and animal feeds.

Elephant Atta ethnic flour brand from Premier Foods

24,25,26,27,28 good run.

Associated British Foods was leading the gains on London's benchmark index after positive comments from analysts. 29

NICE

Nice chart Baylis.

25 Feb 14 Jefferies International Hold 2,965.50 2,450.00 2,600.00 Retains

Associated British Foods plc issues the following update prior to entering the close period for its interim results to 1 March 2014 which are scheduled to be announced on 23 April 2014.
Adjusted operating profit for the first half is expected to be in line with last year. A much lower profit from Sugar will be offset by another excellent performance from Primark and encouraging results from Grocery and Ingredients. Net financing costs in the first half will benefit from the repayment, last July, of British Sugar's 10¾% debenture, a strong cash flow, and lower net debt throughout the period. Together with a further reduction in the underlying tax rate at the half year, adjusted earnings for the first half will be firmly ahead of last year.
Sterling is continuing to strengthen against our major trading currencies and this will have a more significant negative effect on the translation of overseas results into sterling in the second half. Nevertheless, with a better than expected trading performance from the non-sugar businesses and lower financing costs, we continue to expect adjusted earnings per share for the financial year to be similar to 2013.

Well done BAYLIS. :-))

Interim management statement

Headlines

· Primark third quarter sales 22% ahead at constant currency

· Continued profit progress at Ingredients

· EU sugar prices have continued to fall

· Full year adjusted earnings per share now expected to be ahead of last year

Pre Close Period Trading Update

ABF annual results for 52 weeks ended 13 Sept 2014

Financial Highlights

Actual Constant currency1

· Group revenue £12.9bn -3% +1%

· Adjusted operating profit £1,163m* -1% +2%

· Adjusted profit before tax up 2% to £1,105m**

· Adjusted earnings per share up 6% to 104.1p**

· Dividends per share up 6% to 34.0p

· Net capital investment of £691m

· Net debt reduced to £446m

· Operating profit down 1% to £1,080m, profit before tax up 18% to £1,020m and basic earnings per share up 30% to 96.5p

Nomura repeats neutral call on Associated British Foods, target raised to 2,850p from 2,760p.

Exane BNP Paribas remains outperform on Associated British Foods, target cut to 3,200p from 3,500p.

First-half earnings from Associated British Foods were better than expected thanks to a long-awaited improvement in its sugar business, while its Primark clothing business endured a tough Christmas. Like-for-like sales at Primark were less than 1% below the previous year, while total sales rose 5% thanks to increased store selling space.

StockMarketWire.com
Associated British Foods' group revenue for the 40 weeks ended 18 June was 3% ahead of the corresponding period last year at constant currency and 1% ahead at actual exchange rates.

The group says this reflects stronger growth in the third quarter of 4% at constant currency and 7% at actual exchange rates. The underlying operating performance of the group during the third quarter was ahead of its expectation, with an improvement in its sugar business, and on 28 June it completed the buyout of the minority interests in Illovo.

In the third quarter, sterling was weaker against most of the group's major trading currencies compared with a year ago, resulting in a translation benefit. Following the result of the EU referendum, sterling has weakened further and at these rates the group expects a bigger translation benefit in the final quarter with no material transactional effect. As a result, the outlook for this financial year has improved and it no longer expects a decline in adjusted earnings per share for the group for the full year.

Sales at Primark in the year to date were 7% ahead of last year at constant currency driven by increased retail selling space. Sales at actual rates in the quarter benefited from sterling weakness and so, cumulatively, are now also 7% ahead.

Like-for-like sales in the last 16 weeks were adversely affected by unpredictable weather patterns, with an especially cold April followed by a return to more seasonal weather in May. The operating profit margin in the third quarter was 11.9% which was in line with that of the first half.

Looking ahead, it says the UK referendum decision to leave the EU has created uncertainty in the business environment and financial markets.

An update says: "ABF is an international business with diverse interests across 48 countries and a business model that, wherever possible, aligns production with the end markets for its products. Primark operates discrete supply chains for its stores in each of the UK, US and Eurozone. We undertake relatively little cross border trading between the UK and the rest of the EU."

Any views here?

09 Jul 18 HSBC Buy 2,457.50 3600.00 - Reiterates
06 Jul 18 Deutsche Bank Buy 2,457.50 3300.00 3100.00 Reiterates
06 Jul 18 Liberum Capital Buy 2,457.50 3500.00 - Reiterates
05 Jul 18 Liberum Capital Buy 2,457.50 3500.00 - Reiterates
26 Jun 18 Jefferies International Buy 2,457.50 3600.00 3200.00 Reiterates

StockMarketWire.com
Associated British Foods said Monday its full-year outlook remained unchanged as profits at retailer Primark are expected to more than offset the effect of low EU sugar prices owing to a supply glut.

Sales at Primark for the year to 15 September 2018, were expected to rise 5.5% when currency fluctuations were stripped out, driven by increased selling space, which would offset a 2% decline in like-for-like sales, the company said.

At actual exchange rates sales were expected to be 6% ahead of last year.

Primark performed well in the UK, where full year sales were expected to be 6% ahead of last year, as the retailer significantly increased market share.

Like-for-like growth for the full year was expected to be 1.5%, driven by a strong first half and a second half performance in line with an exceptionally strong second half last year.

Like-for-like sales for the Primark group were held back by a like-for-like sales decline in northern Europe, as adverse weather led to difficult retail conditions.

Primark opened a new store in Brooklyn in July, taking its total stores in the US to nine.

Margin in the second half would be well ahead of the first half and last year driven by the weaker US dollar exchange rate on purchases and by better buying, the company added.

Primark's contribution offset the weakness in the sugar division.

Sugar's revenue and adjusted operating profit would be lower than last year as significantly lower EU prices amid a supply glut held back performance in the UK and Spanish businesses, the company said.

Grocery revenues, meanwhile, are expected to be ahead of last year and adjusted operating profit to be well ahead, driven by growth in Twinings Ovaltine, improved margin at George Weston Foods and the first year of contribution from Acetum.

Chart starting to look promising.

Annual Results

Final dividend for the year ended 15 September 2018

Liberum Capital Buy 2433.07 3500.00 Reiterates

Kepler Cheuvreux Buy 2532.00 2600.00 2800.00 Reiterates

JP Morgan Cazenove Overweight 2532.00 2740.00 Reiterates

Barclays Capital Overweight 2532.00 3280.00 Reiterates

200 ma breached and that gap beckons.

UBS Buy 2566.00 3150.00 Reiterates