Associated British Foods plc (ABF.L,ASBFY.PK), in its pre-close trading update, said the group's interim results would be ahead of its expectations at the beginning of the year, with the full-year expectation remaining unchanged and annual earnings growth would therefore be heavily weighted towards the first half.
Adjusted operating profit is likely to be higher than last year, driven by an outstanding performance from Primark. For the first half, net financing costs would benefit from a strong cash flow and lower net debt during the period, while earnings per share would be substantially ahead of the prior year, according to the company.
Operating cash flow for the half year is expected to be stronger than last year with higher profits, lower capital expenditure, and a lower working capital outflow than is traditionally the case in the first half benefiting from the higher sales and good stock management at Primark.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.