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

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

subsidiary british suga farm medical cannabis , would that help profits for

ABF. BB. informed one needs to answer.

Financial Calendar

11/01/2019 - Final dividend 2018 payment date

17/01/2019 - Trading Update

25/02/2019 - Pre close Trading Update

Trading Update

Associated British Foods plc today issues a trading update for the 16 weeks to 5 January 2019 summarising the significant trading developments since the last market update.

Trading outlook

Our outlook for the group is unchanged, with adjusted operating profit and adjusted earnings per share for the year expected to be in line with last year.

Group revenue

Group revenue from continuing operations for the 16 weeks ended 5 January 2019 was 2% ahead of the same period last year at constant currency. Sterling has strengthened marginally against most of our major trading currencies, other than the US dollar, and as a result sales from continuing operations at actual exchange rates were 1% ahead.

Other than the expected reduction in Sugar revenue, sales growth was delivered by all our businesses.

Retail

Sales at Primark were 4% ahead of last year, at both constant currency and actual exchange rates, and with a higher operating profit margin, profit was well ahead. Sales growth was driven by increased retail selling space partially offset by a modest decline in like-for-like sales.

The UK performed well and our share of the total clothing market increased significantly. Sales were 1% ahead of last year for the period, in a market which declined year-on-year. Like-for-like sales in September and October were ahead but reduced footfall affected sales in November. Sales over the Christmas trading period exceeded our expectations.

Sales in the Eurozone were 5% ahead of last year at constant currency. Sales growth was especially strong again in France, Belgium and Italy, performance strengthened in our second largest market, Spain, but soft trading continued in a difficult German market.

We are pleased with the strong US performance in the period. Sales were well ahead and benefitted from very strong trading at the Brooklyn store, which opened in July last year.

As expected, operating profit margin in the period increased, with purchases having been contracted at a weaker US dollar exchange rate than last year, and through better buying and tight stock management. Operating profit for the full year is in line with our expectations.

Retail selling space increased by 0.3 million sq ft since the financial year end and, at 5 January 2019, 364 stores were trading from 15.1 million sq ft which compared to 14.2 million sq ft a year ago. Four new stores were opened in the period: Seville and Almeria in Spain, Toulouse in France and a city centre store in Berlin, Germany. In addition, in the UK, we relocated to larger premises in Harrow and the Merry Hill store was extended.

We now expect to open 0.9 million sq ft in this financial year. The opening of the American Dream shopping mall in New Jersey has been delayed and consequently our new store there will now open next financial year while our smaller store in Oviedo, Spain will close this spring. Our 160,000 sq ft store in Birmingham is expected to open in April and our first store in Slovenia later this financial year.

Sugar

AB Sugar revenue from continuing operations was 12% behind last year at constant currency and 14% behind at actual exchange rates.

As expected, the lower revenue in our UK and Spanish businesses in the period was the result of the lower EU sugar prices for contracts negotiated at the end of last financial year. Looking ahead, the development of our sales book for this year has indicated early signs of recovery in EU sugar prices.

The UK campaign is progressing well and production will now be 1.15 million tonnes as a result of higher sugar content in the beet. Beet yields this year are lower than the record level last year and so production is lower than the 1.37 million tonnes achieved last year.

The northern Spanish campaign at Azucarera has commenced. Total beet sugar production is expected to be some 300,000 tonnes, and a further 170,000 tonnes will be produced from the refining of cane raws at Guadalete. In December we announced a reduction in the beet price that will be paid to growers from the next campaign, bringing this price into better alignment with the market and with prevailing EU sugar prices.

Sugar production at Illovo for the full financial year is expected to be ahead of last year at some 1.75 million tonnes, with campaigns extended to counter wet conditions which impacted production in the early part of the season.

In China, very low levels of sugar content and purity in beet have adversely affected operational performance at our factories at Zhangbei and Qianqi. Combined with lower domestic sugar prices, the business will make a loss this financial year compared to the strong operating result last year.

Grocery

Sales for Grocery were 3% ahead at constant currency, 2% ahead of last year at actual exchange rates and operating profit margins on an underlying basis improved.

Progress continued at Twinings Ovaltine, with good growth in Twinings which benefitted from recent new product launches. The consolidation of tea production from Jinqiao, China to our existing factory in Poland is nearing completion and adjusted operating profit in the first half will include a one-time cost in respect of this.

ACH in the US and George Weston Foods in Australia continued recent progress by further improving margins. At Allied Bakeries, discussions with our customers to reduce the losses continue.

Agriculture and Ingredients

AB Agri revenue was 5% ahead of last year at constant currency and actual exchange rates.

Sales in Ingredients were 6% ahead of last year at constant currency and 1% ahead at actual exchange rates.