Associated British Foods ABF updates that the outlook for the year to the 15th September remain unchanged. Strong profit performances from Primark, Grocery, Agriculture and Ingredients are expected to more than offset the adverse effect of lower EU sugar prices. Grocery revenues are expected to be ahead of last year and adjusted operating profitshould be well ahead. At Allied Bakeries, some progress has been made in reducing the operating loss.It looks like the glory days at Primark may be coming to an end with a 2% fall in like for like sales expected, although in the UK full year sales are expected to be 5.5% ahead at constant currency rates or 6% at actual rates following a significant increase in market share.
RPC group plc RPC has announed that it notes the recent media speculation and confirms that preliminary discussions are taking place with each of Apollo Global Management and Bain Capital which may or may not result in an offer for the Company.
HydroDec Group plc HYR The introduction of a new senior management team came too late to stop losses escalating for the six months for the 30th June: The overall loss for the period increased to US$3.3 million compared to last years US$2.6 million due to under performance from discontinued Australian operation. There has however been a strong start to the second half and the new management is excited bout what lies ahead.
ABCAM PLC ABC is increasing its annual dividend by 17.9% after revenue for the year to the 30th June increased by 7.4% on a reported basis and 10.7% on a constant exchange rate basis.Reported profit before tax rose by grew 33.1% to £69.1m and whilst on an adjusted basis the increase was 26.3% to £81.6m. The company met all its strategic targets during the year and says that the long-term market outlook remains positive with good momentum across the business.