ABF.L - Associated British Foods plc

LSE - LSE Delayed price. Currency in GBp
1,821.00
-55.00 (-2.93%)
At close: 4:35PM BST
Stock chart is not supported by your current browser
Previous close1,876.00
Open1,868.00
Bid1,823.50 x 0
Ask1,824.00 x 0
Day's range1,799.50 - 1,879.65
52-week range1,554.00 - 2,730.00
Volume2,477,749
Avg. volume1,579,744
Market cap14.416B
Beta (5Y monthly)0.71
PE ratio (TTM)20.37
EPS (TTM)89.40
Earnings date21 Apr 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend date12 Dec 2019
1y target est2,786.87
  • Upbeat broker recommendations for Associated British Foods
    Stockopedia

    Upbeat broker recommendations for Associated British Foods

    The Associated British Foods (LON:ABF) share price has risen by 1.48% over the past month and it’s currently trading at 1859. For investors considering whether...

  • Reuters - UK Focus

    Britain's M&S ties up with health service for huge clothing sale

    British retailer Marks & Spencer launched a clothing sale on Thursday to help clear stock built up in the coronavirus lockdown, tapping into widespread public support for health workers by giving some proceeds to NHS charities. With Britain having been in lockdown since March 23, the country's store-based clothing retailers are sitting on hundreds of millions of pounds of spring and summer stock, which they are now looking to unload as the restrictions start to ease. M&S, Britain's biggest clothing retailer by sales, said it will donate 10% of the customer purchase price, excluding VAT sales tax, of all sale items to NHS Charities Together, with whom the retailer has an exclusive arrangement.

  • U.K. Lockdown Sent Retail Sales Plunging Almost 20% in April
    Bloomberg

    U.K. Lockdown Sent Retail Sales Plunging Almost 20% in April

    (Bloomberg) -- U.K. retail sales dropped in April by the most in at least a quarter of a century, according to industry figures that outline the impact of the shutdown on stores.The British Retail Consortium said total sales fell 19.1% in April from a year earlier, the most since its monitor began in 1995. In a further sign of the damage done by the lockdown, a Barclaycard measure of consumer spending fell 36.5% last month.On the consortium’s like-for-like measure, which excludes temporarily closed stores, sales were up 5.7% in April. But most of that growth came from online shopping, which surged almost 60%.Online demand was driven by entertainment products and home-related goods, with computing equipment, household gadgets, toys and baby equipment performing strongly, according to the report. Clothing experienced a significant decline.Figures due later on Wednesday are forecast to show the U.K. economy shrank in the first quarter, reflecting the imposition of virus-related restrictions. The slump is likely to deepen this quarter, and the government is extending aid programs to help support workers and businesses.All British retailers have been affected by the lockdown. Even grocers and other shops deemed essential that have been allowed to continue operating have had to absorb higher costs as they implement social distancing and other measures.Under PressurePrimark, the value clothing chain owned by Associated British Foods Plc, has said the closure of all its shops is costing 650 million pounds ($800 million) of lost revenue a month. Marks & Spencer Group Plc has cut its dividend to preserve cash and weather the crisis. Next Plc reported a 41% plunge in full-price sales in the quarter ended April 25 and said business would remain under pressure for the rest of the year.Nearly all retailers have withdrawn financial guidance for the year.The lockdown has been “catastrophic” for retailers, the consultancy group BDO LLP said last week, adding that even the strongest online sales ever wouldn’t be able to offset the impact. Consumer behavior has changed drastically during lockdown, and retailers will need to adapt as they start to reopen, according to Sophie Michael, head of retail and wholesale at BDO.“With such a significant amount of spend removed, retailers will be focusing on preserving cash, engaging their customers through online channels, and building operational efficiency,” Michael said.(Updates with detail on retailers starting in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Best British shares for May 2020
    Fool.co.uk

    Best British shares for May 2020

    We asked our freelance writers to share their best British shares for May, including Tate & Lyle, Rightmove, Boohoo Group, and Team17.The post Best British shares for May 2020 appeared first on The Motley Fool UK.

  • £5k to invest? Here’s 1 undervalued FTSE 100 stock I’d buy right now
    Fool.co.uk

    £5k to invest? Here’s 1 undervalued FTSE 100 stock I’d buy right now

    Rupert Hargreaves takes a look at one FTSE 100 stock with bright prospects that's fallen sharply in the recent stock market crash. The post £5k to invest? Here's 1 undervalued FTSE 100 stock I'd buy right now appeared first on The Motley Fool UK.

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    Fool.co.uk

    Stock market crash: 3 FTSE 100 shares I’d buy today and never sell

    These FTSE 100 shares could be Warren Buffett-style "wonderful companies at a fair price", says Roland Head, who rates these stocks as buys.The post Stock market crash: 3 FTSE 100 shares I'd buy today and never sell appeared first on The Motley Fool UK.

  • This FTSE 100 share price has fallen 30%. Here’s why I’d buy now
    Fool.co.uk

    This FTSE 100 share price has fallen 30%. Here’s why I’d buy now

    The severing of dividends has hurt investors' incomes, but crashing FTSE 100 share prices are presenting some great long-term buys in my book.The post This FTSE 100 share price has fallen 30%. Here's why I'd buy now appeared first on The Motley Fool UK.

  • Brokers upbeat on Associated British Foods despite economic uncertainty
    Stockopedia

    Brokers upbeat on Associated British Foods despite economic uncertainty

    The Associated British Foods (LON:ABF) share price has risen by 18.0% over the past month and it’s currently trading at 1874. For investors considering whether8230;

  • Reuters - UK Focus

    Global garment industry calls for support for manufacturers

    A group of employers' organisations, unions and major brands in the garment industry are working with the International Labour Organisation (ILO) to support manufacturers affected by the coronavirus outbreak, the ILO said on Wednesday. Under the agreement, brands and retailers commit to paying manufacturers for finished goods and goods in production, the organisation said in a statement.

  • Reuters - UK Focus

    LIVE MARKETS-Gold could reach $3,000 threshold in 18 months

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. In addition to interest rates and nominal GDP, "central bank balance sheets or official gold reserves will remain the key determinants of gold prices," BofA says in a research note.

  • Reuters - UK Focus

    MORNING BID-COVID gloom drives pain down the oil futures curve

    The great oil collapse continues, but are stock markets starting to shrug that off? MSCI's world stocks are flatlining near two-week lows and Asian shares have reversed early losses. U.S. futures are actually pointing higher following Tuesday's 3% fall on Wall Street.

  • Reuters - UK Focus

    LIVE MARKETS-On the radar: Investors back to the stock market

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Another day in risk-off mood as concerns about coronavirus impact on the economy are keeping oil prices under pressure, but investors are back to the stock market after yesterday's selloff.

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    A FTSE 100 share I’d pounce on right now

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  • Primark owner scraps dividend, takes charge for surplus stock as coronavirus crisis hits
    Reuters

    Primark owner scraps dividend, takes charge for surplus stock as coronavirus crisis hits

    Primark owner Associated British Foods <ABF.L> will not pay an interim dividend to save cash during the coronavirus crisis and has booked a 284 million pound ($352 million) charge to reflect an expected lower value of stock when its stores reopen. All of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of 650 million pounds ($806 million) of net sales per month. "One of the world's great clothing retailers is entirely shut," Chief Executive George Weston said on Tuesday.

  • Baking Brits Give Primark Owner a Smart Look
    Bloomberg

    Baking Brits Give Primark Owner a Smart Look

    (Bloomberg Opinion) -- Conglomerates are about as appealing as a pink fluffy sweater left stranded on Primark’s shelves at the start of the lockdown in March. But the devastation to sales wrought by the new coronavirus has shown why, for once, it might make sense that the retailer’s parent, Associated British Foods Plc, combines clothing, groceries and agriculture in one big company.Primark’s stores are closed, and the discount fashion chain doesn’t sell online. It has gone from taking 650 million pounds in ($805 million) a month before the last of its stores shut their doors on March 22, to selling nothing at all. Even with efforts to cut costs, and a tax break, the retailer’s cash outflow is 100 million pounds a month. It has taken a 284 million-pound provision for the stock that it will have to sell at a lower price to clear it out.While the parent company’s name hides it well, Primark is by far the biggest element of Associated British Foods, accounting for almost 50% of sales in 2019 and more than 60% of operating profit. This year the proportion will be much lower after at least two months of not trading. But if Primark were a stand-alone group it would have no revenues at all for that period. The smaller divisions, which range from corn sugar and tea to Southeast Asian cooking spices, are at least bringing in cash.What’s more, ABF’s grocery arm has been helped by the panic buying at the start of the pandemic crisis, as consumers around the world stocked up. At its bakery brands, Allinson and Kingsmill, it is selling every loaf of bread it can make. Similarly, the craze for home baking as people try to fill their time in lockdown is driving demand for flour. This should also help sales of sugar. Demand for food more broadly could feed through to other divisions such as agriculture and ingredients.The London-based company is also able to benefit from a strong balance sheet. It had net cash of 801 million pounds as of Feb. 29.It’s not clear how long Primark will be out of action. Reopening won’t be straightforward in a world where social distancing becomes the norm. The retailer will need to reconfigure stores, and deal with stock, like those pink fluffy jumpers that won’t sell well in higher summer temperatures. That means the conglomerate structure should help ease the burden for a while yet.But at some point the world will return to some semblance of normality. Shopping malls and main streets are likely to see a significant shake-up, with some winners emerging in a much stronger position. Primark, with its focus on low prices, will probably be among them. It could also pick up market share from those that fail.If the group’s U.S. business continues to prosper, Primark should resume its growth trajectory once more. The prospects here are good. The inevitable economic downturn that will follow the pandemic should favor discount retailers. What’s more, with some well-known U.S. names likely disappearing, and others closing swathes of stores, ABF will have a surfeit of space to choose from if it expands its network.Once Primark’s sales pick back up, it risks pulling away from ABF’s smaller divisions again. That will make a split or a spin-off look more appealing once more.The logic of having discount fashion alongside diet crispbreads won’t be evident forever. But right now, investors in ABF should be thankful for it.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • What to watch: Primark and John Lewis furloughs, stocks fall, SAP boss steps down
    Yahoo Finance UK

    What to watch: Primark and John Lewis furloughs, stocks fall, SAP boss steps down

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • Coronavirus: Primark owner warns 'we have sold nothing' since shutdown
    Yahoo Finance UK

    Coronavirus: Primark owner warns 'we have sold nothing' since shutdown

    Associated British Foods said it had scrapped its dividend, furloughed 68,000 employees across Europe, and suspended its earnings guidance.

  • Reuters - UK Focus

    Primark owner AB Foods right not to pay dividend, says boss

    Primark owner Associated British Foods' decision not to pay an interim dividend to shareholders was "absolutely the right thing to do" given the coronavirus crisis, its boss said on Tuesday. Omitting the payment for the first time in two decades would save the company about 100 million pounds ($124.2 million), Chief Executive George Weston told Reuters. Due to the pandemic all of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of 650 million pounds of net sales per month.

  • Reuters

    Primark owner AB Foods omits dividend to save cash in coronavirus crisis

    Primark owner Associated British Foods said it would not pay an interim dividend to save cash and could not provide full year 2019-20 earnings guidance for the fashion retailer because of uncertainty caused by the coronavirus crisis. All of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of 650 million pounds ($806 million) of net sales per month. The group, whose shares have fallen 24% so far this year, said on Tuesday it would be able to mitigate half of the operating costs of the Primark business while the stores remain closed.

  • Primark commits to paying for 370 million pounds of orders during coronavirus crisis
    Reuters

    Primark commits to paying for 370 million pounds of orders during coronavirus crisis

    Fashion retailer Primark has committed to pay suppliers for 370 million pounds of orders, though all its stores are closed due to the coronavirus pandemic. All of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of 650 million pounds of net sales per month. The retailer, owned by Associated British Foods <ABF.L>, had previously only committed to paying for orders that were in transit or booked for shipment by March 18.

  • Reuters - UK Focus

    Primark commits to paying for 370 mln stg of orders during coronavirus crisis

    Fashion retailer Primark has committed to pay suppliers for 370 million pounds ($461 million) of orders, though all its stores are closed due to the coronavirus pandemic. All of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of 650 million pounds of net sales per month. The retailer, owned by Associated British Foods, had previously only committed to paying for orders that were in transit or booked for shipment by March 18.

  • What to Watch: Record EU PMI slump, markets fall, Primark pay cuts
    Yahoo Finance UK

    What to Watch: Record EU PMI slump, markets fall, Primark pay cuts

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • Coronavirus: Primark chiefs take 50% pay cut with stores closed
    Yahoo Finance UK

    Coronavirus: Primark chiefs take 50% pay cut with stores closed

    Primark's board said it was 'acutely aware' may employees had seen their livelihoods affected by the COVID-19 outbreak.

  • AB Foods bosses take pay cut as coronavirus to dent profit
    Reuters

    AB Foods bosses take pay cut as coronavirus to dent profit

    Primark owner Associated British Foods <ABF.L> said on Friday its bosses are taking temporary pay cuts and will not receive bonuses for the current year given that profits will be dented by the coronavirus emergency. It said the base pay of chief executive George Weston, finance chief John Bason and Primark boss Paul Marchant will be reduced temporarily by 50%. The group's non-executive directors, including the chairman Michael McLintock, have also decided that their fees should be reduced temporarily by 25%.

  • 2 FTSE 100 shares I’d buy today in the worst stock market crash since 1987
    Fool.co.uk

    2 FTSE 100 shares I’d buy today in the worst stock market crash since 1987

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