Davy Research

Associated British Foods

Pre-close trading update signals solid end to 2017
Foods
Associated British Foods

DAVY VIEW

Associated British Foods (ABF) has released a positive pre-close trading update. The statement is broadly consistent with the Q3 update except for a stronger-than-expected margin performance at Primark and healthier net cash position for the group of £650m (Davy: £331m). We expect no material change to our forecasts. Overall, earnings momentum remains positive at ABF.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Associated British Foods

    Closing Price: 326500p

  • RATING 05/07/11

  • PREVIOUS RATING 03/11/10

    Neutral

Analyst(S)

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