Home » News and Views » Ian Pollard: ABF – Primark Faces 2% Like For Like Decline

Ian Pollard: ABF – Primark Faces 2% Like For Like Decline

Associated British Foods ABF expects a small reduction in adjusted operating profit as it enters the close period for its interim results for the 24 weeks to 2 March 2019. Despite this, sales growth is expected from all the businesses with the exception of Sugar but this is obviously not the ABF of old. For the full year results are expected to be in line with last year, That would have been unheard of and completely unacceptable even in the comparatively recent past. To add to the woes AB Sugar revenue from continuing operations is expected to be lower than last year with the result that the division will now make a marginal loss for the first half. Primark faces a 2% decline in like-for-like sales although sales are expected to be 4% ahead of last year and profit is expected to be well ahead of the same period last year but only because of a higher margin. The Eurozone has helped to save the day with sales expected to be 5% ahead of last year.

Bunzl plc BNZL has acquired a further safety business in the US. Californian based Liberty Glove & Safety, is engaged in the sale of a full range of personal protection equipment. No it’s not what you thought and its not knuckledusters either, it’s gloves, with revenue in 2018 of US$93 million.

Finsbury Food Group FIF Revenue for the 26 weeks to the 29th December rose by 0.5% on a like for like basis  Total group revenue however fell by 3.5% reflecting the closure of businesses partially offset by acquisitions. Better news is that last years first half loss of £1.2m was turned into a Profit before tax of £7.5m and the interim dividend is being  increased by 5.5% to 1.16p per share.The CEO describes the results as robust, delivered in a challenging period. A warning note  is that wider market pressures will continue in the period ahead.

Dechra Pharma DPH Trading in the six months to the end of December was strong with group revenue rising by 19.1% and the interim dividend up by 29.6%. EBITDA increased by 27.7%, operating profit by 35.8% and diluted earnings per share by 47.4%

Dialight DIA found 2018 to be a challenging year but one in which the foundations were laid to drive growth and restore market share. The prospects of further progress in 2019 remain unchanged, but with a second half weighting. Three major products are to be launched which will significantly expand the Group’s market.and the company has two new facilities in Mexico and Malaysia, to provide sufficient capacity to meet growth aspirations.

Find beachfront villas & houses for sale in Greece;   http://www.hiddengreece.net

Leave a comment

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.