Ian Pollard – Allied Bakeries, part of AB Foods #ABF Loses Out On Price “Discussions”
Assoc. British Foods ABF claims that its results for the 24 weeks to the 2nd March are robust, with statutory profit before tax down by 15%, basic earnings per share by 19% and profit at AB Sugar down substantially. Say no more ! Grocery did produce strong underlying growth, with good momentum, Primark reverted to […]
Ian Pollard: ABF – Primark Faces 2% Like For Like Decline
Associated British Foods ABF expects a small reduction in adjusted operating profit as it enters the close period for its interim results for the 24 weeks to 2 March 2019. Despite this, sales growth is expected from all the businesses with the exception of Sugar but this is obviously not the ABF of old. For […]
Ian Pollard – Costa Sale Brings Large Share Buy Back For Whitbread Shareholders.
Whitbread plc WTB Completed the sale of Costa to The Coca-Cola Company for £3.9bn on 3 Jan 2019, ahead of schedule. Over 2,000 new rooms were added with occupancy high at over 80%. UK like for like sales growth fell by 0.6% over the quarter and 0.7% over the year. Despite the high occupancy […]
Ian Pollard – Games Workshop Group #GAW – “Truly” Surplus Cash & Not “Truly” Surplus Cash
Games Workshop Group GAW updates that at the end of the six months to the 2nd December, it has a lot of cash which is truly surplus, presumably as opposed to cash which is not “truly” surplus. . The company can not find anything else to do with it so it is giving it to […]
Ian Pollard: ABF – A Headline A Day
Associated British Foods ABF Yesterdays headline trumpeted that Primark blamed three periods of unseasonable weather for sales sliding by 2.1% over the year to the 15th September. But today a new day has dawned and brought with it new headlines as the media stands on its head and proclaims that today’s truth is that Primark […]
Ian Pollard – Primark Like For Like Sales Fall
Associated British Foods ABF updates that the outlook for the year to the 15th September remain unchanged. Strong profit performances from Primark, Grocery, Agriculture and Ingredients are expected to more than offset the adverse effect of lower EU sugar prices. Grocery revenues are expected to be ahead of last year and adjusted operating profitshould be […]
Ian Pollard – Housebuilders In Cloud Cuckoo Land
Bovis Homes BVG delivered a total of 1,580 completions in the half year to the 3oth June, slightly ahead of expectations and an increase of 4% on the previous year. Average selling prices for private houses only managed by a whisker to avoid falling into negative territory at £335,000 compared to last years £334,700. The […]
Ian Pollard – Is ABF-Primark losing its star quality rating?
Associated British Foods ABF Interim results for the 24 weeks to the 3rd March produced a rise of 1% in profit before tax and rises of 3% in the interim dividend and adjusted earnings per share.On a statutory basis, operating profit was down 3%. All of the groups businesses, with the exception of sugar, produced […]
Ian Pollard – Primark Like For Like Sales Drop
Associated British Foods ABF warns that for the first half so far like for like sales at Primark have gone into decline with a 1% fall. This is despite a strong performance in the UK with produced a 4% rise in like for like sales and an 8% overall sales rise which was helped by […]
Ian Pollard – Whitbread Delves Deep Into The Excuses Drawer – Even For Costa
Whitbread WTB is forced to delve deep into the excuses and jargon drawer to try and explain away its weak UK performance during quarter 3. It concentrates on total sales growth figures which look quite reasonable until one looks at how it fared on a like for like basis.Thus group sales growth came in at […]