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Jan 20 2022, 09:00 GMT
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.
Jan 20 2022, 09:00 GMT