Associated British Foods

Stellar H1 delivery

  • Sectors : Foods
  • Companies : Associated British Foods

Ratings and price correct at time of issue.

  • Associated British Foods

    Closing Price: 2506p

  • RATING 05/07/11

  • PREVIOUS RATING 03/11/10



Associated British Foods (ABF) has delivered an exceptional H1-24 performance, with all divisions contributing to operating profit growth in the period. The key takeaway for us was Primark delivering an operating margin of 11.3%, which underpinned 45% operating profit growth for the segment in the period. Cash generation also impressed due to working capital management. The business is firing on all cylinders, and we expect consensus operating profit for FY24 to approach £2bn.

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Apr 23 2024, 08:45 IST/BST