Associated British Foods

Strong start to the year despite Omicron and supply chain headwind

  • Sectors : Foods
  • Companies : Associated British Foods

Ratings and price correct at time of issue.

  • Associated British Foods

    Closing Price: 2131p

  • RATING 05/07/11

  • PREVIOUS RATING 03/11/10



Key takeaways from Associated British Foods’ (ABF) Q1-22 statement include the stronger-than-expected margin performance at Primark and the continued inflation headwinds across the non-retail businesses. Like-for-like (LFL) growth at Primark of 36% was strong and reflected a fully opened estate, with the rise of Omicron in December negatively impacting footfall in the final weeks (since recovering). Non-retail segments grew by 6% in aggregate, with input cost and supply chain inflation appearing more acute. Full-year guidance is unchanged, and we therefore envisage no material changes to our forecasts.

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Jan 20 2022, 09:00 GMT