Tuesday, 26 March, 2019


Primark owner hails "highly successful year"

Primark stock Primark stock
Conrad Doyle | 07 November, 2017, 12:29

At constant currency rates, revenues increased 6 percent.

Revenues have soared by nearly £2bn at Primark owner and food manufacturer Associated British Foods in what the company's chief executive has hailed as a "highly successful year".

Adjusted operating profit-a preferred measure of the company's that strips out exceptional and other one-off items-increased to GBP1.36 billion from GBP1.11 billion, representing a rise of 13% at constant currency.

ABF has proposed a final dividend of 29.65p, bringing the total payout for the year to 41p, an increase of 12 per cent on the previous year.

"This was a highly successful year for the group", said George Weston, chief executive.

He said that capital investment had hit a record during the year, as ABF "continued to pursue the opportunities to grow our businesses into the future".

The group's traditional sugar side also recovered strongly in the year to September 16 as European sugar prices rose.

Looking ahead for the new year, the company said that at this early stage, it expects progress in adjusted operating profit and adjusted earnings per share for the group.

He said: "Changes in legislation and trade agreements provide significant opportunities for the food industry to replace imported food and build export markets and, for United Kingdom agricultural policy particularly, they have the potential to benefit our group".

Pre-tax profits were £1.57bn, up from £1.04bn. However, the "difficult" United Kingdom bread market led to a decline in revenue at Allied Bakeries, which sustained a loss.

Earnings per share went up 47% to 151.6 pence from 103.4 pence a year ago.

The group's Grocery business was boosted by the performance of Twinings and Ovaltine in the USA, as well as by George Weston Foods in Australia, however it was held back by "the trading environment faced by the United Kingdom bakeries", the company said.

Recommended

loading...
...

Investors Sell Exxon Mobil Corporation (XOM) on Strength (XOM) Investors Sell Exxon Mobil Corporation (XOM) on Strength (XOM) Following the transaction, the vice president now owns 231,572 shares in the company, valued at approximately $18,470,182.72. Credit Agricole SA reiterated a "buy" rating on shares of Exxon Mobil Corp.in a research report on Tuesday, August 16th.

Sleep deprivation impairs you as much as being drunk Sleep deprivation impairs you as much as being drunk Participants were asked to stay up all night in order to trigger an epileptic episode before undergoing surgery. Now the researchers noted that the neurons had become sluggish and slower to respond to the images.

Reliance Communications says renegotiating tower business sale Trai asked all telecom operators to accept the request of RCom subscribers till December 31, 2017, for porting out. The exit from the DTH business is in consonance with the RCom's stated objective to focus on B2B businesses.

Domestic violence a key connection between many mass shooters Domestic violence a key connection between many mass shooters The Sunday mass shooting in a small town in Texas is one of hundreds of mass shootings in the United States this year. He served a year in a military jail for beating his ex-wife and fracturing her child's skull in New Mexico in 2012.

Edmonton Oilers shut out by Red Wings for another loss at home Edmonton Oilers shut out by Red Wings for another loss at home Bo Horvat then found Del Zotto in the slot and the defenseman wristed the puck over Howard's shoulder as the crowd roared. The Oilers have given up 12 power-play goals in only 26 attempts at home over their nine games.

IMA declares public health emergency in Delhi, says schools must be shut IMA declares public health emergency in Delhi, says schools must be shut "Delhi is becoming unliveable, particularly for children, as the pollution has reached uncontrollable levels". The Central Pollution Control Board recorded "severe" air quality at 10 am in Delhi.

Sia combats paparazzi intrusion by posting nude photo herself Sia combats paparazzi intrusion by posting nude photo herself The record, which features ten original festive tunes, sees Sia's muse Maddie Ziegler posing on the cover in a red and green wig. Singer Sia , after finding out that someone was trying to sell nude pictures of her, has shared one herself for "free".

Lampard: Passive West Ham players are scared Lampard: Passive West Ham players are scared Bilic admitted he understood the board's "desire to make a change" as they bid to guide West Ham away from the foot of the table. Woods worked with Moyes at Everton and Man United, another indication of the identity of Bilic's likely successor.

You Dancing? Ashley Banjo completes Dancing on Ice judging panel You Dancing? Ashley Banjo completes Dancing on Ice judging panel In a short clip aired right after the episode ended, Antony told viewers: "I'm Antony Cotton and I've got some pretty cool news". Dancing On Ice originally ran between 2006 and 2014 but will be back on TV in January for a tenth series on ITV.

Cooler weather and rain potential forecast throughout early week Cooler weather and rain potential forecast throughout early week The cold front will track through the northeast with rain and thunderstorms on Monday , according to The Weather Channel . Tonight , the low will be around 33 with a northeast wind of 5 to 7 miles per hour , according to the weather service.

Gary Neville sends message to Man United about Henrikh Mkhitaryan Gary Neville sends message to Man United about Henrikh Mkhitaryan Fellow pundit and former striker Ian Wright also shared his sympathy for Lukaku and pointed the blame at his creative teammates. He's a goal-scorer and he's getting judged on scoring goals'.

Richard Dreyfuss' Son Claims Kevin Spacey Groped Him When He Was 18 Richard Dreyfuss' Son Claims Kevin Spacey Groped Him When He Was 18 And it seems as if he's following in the footsteps of disgraced Miramax owner, Harvey Weinstein , who has also gone a sex scandal. "I have loved and had romantic encounters with men throughout my life, and I choose now to live as a gay man".

Typhoon Damrey: 44 killed, 19 missing in Vietnam Typhoon Damrey: 44 killed, 19 missing in Vietnam In Nha Trang Diocese, a church source said the Bishop's House and many convents and churches were badly damaged by the typhoon. Roads that had been flooded or washed away caused traffic jams across several provinces.

Australia c.bank seen keeping rates steady at Nov meeting Australia c.bank seen keeping rates steady at Nov meeting Lowe repeated on Tuesday that the Australian economy is likely to pick up and average about 3 percent growth over the next few years.

Avis Budget beats 3Q profit forecasts Ameritas Investment Partners Inc.'s holdings in Avis Budget Group were worth $871,000 at the end of the most recent quarter. ValuEngine cut shares of Avis Budget Group from a buy rating to a hold rating in a research note on Monday, August 7th.