Proxy adviser tells investors to vote against ‘excessive’ pay of Associated British Foods boss December 5, 2018 An influential advisory group today recommended that shareholders vote against the "excessive" pay package of the Associated British Foods (ABF) boss. The firm’s chief executive George Weston, who belongs to the billionaire family that owns a majority stake in ABF, earns approximately 129 times the salary of the company’s average employee, with proxy firm Pensions [...]
Check it out: There’s a new Fortnum & Mason restaurant in the heart of the City November 12, 2018 Fortnum & Mason today opened a new restaurant and shop in the Royal Exchange in a move it said marks its commitment to London as a global financial capital. The restaurant will be the luxury department store’s first outlet in the City. In addition to its flagship Piccadilly location, which opened in 1707, the company [...]
Sugar business misses the sweet spot as eyes turn to Primark November 6, 2018 Primark has today been pinned as next year's source of growth for its owner Associated British Foods (ABF), which is looking to fill a gap left by falling profits from its sugar arm. ABF is hoping that expansion of Primark’s selling space will help deliver expected earnings per share next year, in a bid to [...]
Even Primark can’t save Associated British Foods from a drop in profits this year, as sugar and currency woes hit the business hard September 7, 2015 Associated British Foods (ABF) has confirmed its adjusted operating profit will decline for the full year as its has failed to offset challenges in its sugar division and currency headwinds. Operating profit at constant currency will be ahead of last year for grocery, agriculture, ingredients and retail, ABF said this morning. The firm's share [...]
After US launch Primark heads for Italy; opening first stores in Milan next year July 10, 2015 Primark is so inspired by its "Primarni" nickname, it's entering the Italian market ahead of schedule, it said today. The fashion brand will open the first of up to three Italian stores in Milan next summer, according to owner Associated British Foods. Shares in the group rose, following a trading update reporting a “modest decline” [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Primark sales climb – but sugar division remains bitter for Associated British Foods February 23, 2015 Associated British Foods is expecting good things from Primark when it reports its full year figures in April – but its sugar division continues to dampen the group's overall performance. The fast fashion chain is ABF's jewel in the crown. Sales are expected to be up 16 per cent on last year, with “very [...]
Primark sales up but Associated British Foods warns strong pound will weigh on earnings February 23, 2015 Associated British Foods (ABF), the owner of the Primark clothing chain, warned investors today that a strong pound would likely lead to a “marginal decline” in adjusted earnings per share for the full year. Sales at its Primark division are expected to grow thanks to strong Christmas sales and expansion into Europe – [...]
Primark sales soar 15pc but Associated British Foods warns lower sugar prices will hit profits January 15, 2015 Primark will not do enough to offset the fall in sugar prices and currency headwinds for parent company Associated British Foods, which is expecting a "marginal decline" in adjusted earnings per share for the year. Total revenues at ABF grew three per cent for the 16 weeks to 3 January, with Primark providing the bulk [...]
Associated British Foods share price rises as Primark revenues jump November 4, 2014 Shares in Primark parent company Associated British Foods (ABF) rose 1.65 per cent in early trading, as a "magnificent year" for Primark helped create record increases in earnings and profit before tax in its full-year results today. ABF chief executive George Weston said: “Primark’s trading success and significant expansion delivered another magnificent year.” [...]