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Associated British Foods Closes All 376 Primark Stores
AB Foods Says Too Early To Forecast For Remainder Of Year Due To COVID-19
Wilmar International Announces JV In China With Associated British Foods Plc
Associated British Foods plc is an international food, ingredients and retail company. Its segments include grocery, sugar, agriculture, ingredients and retail. The grocery segment manufactures products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products, which are sold to retail, wholesale and foodservice businesses. The sugar segment is engaged in growing and processing of sugar beet and sugar cane for sale to industrial users and to Silver Spoon, which is included in the Grocery segment. The agriculture segment manufactures of animal feeds and the provision of other products and services for the agriculture sector. The ingredients segment is manufactures of bakers’ yeast, bakery ingredients, enzymes, lipids, yeast extracts and cereal specialties. The retail segment is engaged in buying and merchandising value clothing and accessories through the Primark and Penney's retail chains.
Mayfair, 10 Grosvenor Street
Michael George Alexander McLintock
Non-Executive Chairman of the Board
George G. Weston
Chief Executive, Executive Director
John George Bason
Finance Director, Executive Director
Paul A. Lister
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London's FTSE 100 bounced from a near four-month low on Monday as the pound weakened on growing prospects of the UK leaving the European Union without a trade agreement, while Primark-owner Associated British Foods jumped on issuing a strong forecast.
Associated British Foods said on Thursday that trading in its Primark fashion stores that have reopened after coronavirus lockdown has been "reassuring and encouraging".
British fashion retailer Primark has placed "hundreds of millions" of pounds worth of orders with suppliers for seasonal autumn/winter stock, the finance chief of its owner Associated British Foods said on Monday.
Fashion retailer Primark is working to re-open all its 153 stores in England on June 15, in line with the country's easing of coronavirus lockdown restrictions, its owner Associated British Foods said on Monday.
Primark owner Associated British Foods <ABF.L> said on Friday its bosses are taking temporary pay cuts and will not receive bonuses for the current year given that profits will be dented by the coronavirus emergency.
* GEORGE WESTON, CHIEF EXECUTIVE, AND JOHN BASON, FINANCE DIRECTOR, HAVE REQUESTED THAT THEIR BASE PAY BE REDUCED TEMPORARILY BY 50%
* AB FOODS - AS AT 16 MARCH 2020, PRIMARK STORES REPRESENTING 20 PERCENT OF SELLING SPACE AND 30 PERCENT OF SALES WERE CLOSED.
UK blue-chips gained on Friday, bouncing back from a near two-month low in the previous session, on optimism over signs of progress in U.S.-China trade talks.
Associated British Foods on Friday kept its forecast for earnings growth in its 2019-20 year with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain.
Fashion retailer Primark's sales were dented by unseasonable weather in May, its owner Associated British Foods said on Thursday.
Associated British Foods said almost zero first half profit from sugar represented the "low water mark" for the business, forecasting an improved performance as prices improve.
Associated British Foods reported flat first-half earnings, reflecting a fall in sugar revenue and profit that was offset by growth in all its other businesses.
* Shares rise as much as 6.7 pct (Recasts with FD, analyst comment, shares)
Associated British Foods blamed a fall in shopper numbers and unseasonably warm weather for negative underlying sales at its Primark fashion chain in November, sending its shares lower.
Associated British Foods on Thursday maintained its overall guidance for the full 2017-18 year, saying a more negative outlook for its sugar business would be offset by a better performance at its Primark fashion chain.
Associated British Foods on Tuesday reported a 1 percent fall in first-half profit, with a resilient performance at its Primark fashion business offset by a previously flagged reduction in sugar revenues.
Primark owner Associated British Foods on Monday forecast first-half profit in line with the same period last year, held back by a previously flagged reduction in sugar revenues.
Primark owner Associated British Foods said on Thursday its chairman Charles Sinclair will retire on April 11 and be succeeded by Michael McLintock, an existing non-executive director at the firm.
* ANNOUNCES THAT CHARLES SINCLAIR, CHAIRMAN, YESTERDAY NOTIFIED HIS INTENTION TO RETIRE FROM BOARD ON 11 APRIL 2018
Primark owner Associated British Foods maintained its full-year earnings guidance on Thursday, reporting quarterly revenue growth in all of its businesses apart from sugar.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.