Associated British Foods Expects H1 Primark Sales To Be Some £2.2 Bln

Associated British Foods plc (ASBFY.PK,ABF.L) said it expects first-half revenue and profit in each of the company's Grocery, Sugar, Agriculture and Ingredients businesses to be ahead of both expectation and the first half of last year.

The company expects Primark sales in the first half to be some £2.2 billion and the adjusted operating profit to be marginally above break-even.

Further, the company said it anticipates the reopening of the Primark estate. As of today, the company had likely reopening dates for 233 stores in addition to the 77 stores already open, so that 83% of its retail selling space should be trading by 26 April.

Associated British Foods added that its stores will be offering exciting seasonal ranges for spring/summer and have been placing orders for merchandise with a long lead time for the autumn/winter season. The company further expects "the period after reopening to be highly cash generative."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration approved Boehringer Ingelheim Pharmaceuticals, Inc.'s Pradaxa (dabigatran etexilate) oral blood thinning medication for children. Pradaxa is the first FDA-approved blood thinning medication that children can take by mouth. The only other approved blood thinning medication for children is given by injection. Amazon.com Inc.'s two-day Prime Day event is happening now with more than 2 million deals on offer. The e-commerce giant's biggest shopping extravaganza of the year started June 21 at 3 a.m. EDT and runs for 48 hours, through June 22. Prime Day 2021 will feature the largest number of deals ever offered in the seven year history of the Prime Day Celebrations. New deals are being launched throughout The European Commission announced Tuesday that it has opened a formal antitrust investigation to assess whether Google has violated EU competition rules by favoring its own online display advertising technology services in the so called "ad tech" supply chain, to the detriment of competing providers...
Follow RTT