Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Associated British Foods Plc    ABF   GB0006731235

ASSOCIATED BRITISH FOODS PLC

(ABF)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

JD Sports restores outlook as sales start to recover

09/08/2020 | 05:45am EST
People pass a JD Sports store in London

Britain's biggest sportswear retailer JD Sports pointed to an encouraging performance since its shops reopened following coronavirus curbs and felt confident enough to give guidance for the rest of its financial year, sending its shares higher.

A combination of pent-up demand, particularly in areas where online sales are less prevalent, and discounts helped to boost sales in reopened stores, JD said.

It also reported an "excellent performance" in the United States helped by sales at Finish Line and JD.

Pretax profit sank 68% to 41.5 million pounds for the six months ended Aug. 1, but JD predicted full-year headline pretax profit would be at least 265 million pounds ($349 million).

The company reported profit before tax and exceptional items of 438.8 million pounds in the year to Feb. 2020.

JD said it would not pay an interim dividend.

"While the headline figures are down, there are clear signs in JD Sports' interim results that it is recovering from the crisis," eToro analyst Adam Vettese said.

Shares in the FTSE-100 listed company jumped 7% to 775 pence by 0920 GMT.

While footfall in the UK improved in August, sales were still below pre-pandemic levels leading to a devastating effect on local economies, according https://brc.org.uk/news/corporate-affairs/empty-office-blocks-leave-city-centres-bare to the British Retail Consortium.

Britain has been encouraging people to get back to their places of work to revive the economy, as British chains like Pret A Manger and Marks and Spencer have had to lay off thousands of staff.

However, retailers including Frasers, Primark and Ted Baker have lately guided to improving sales.

"Retail footfall remains comparatively weak and the recent strengthening of measures in many countries and the subsequent temporary closure of some stores reminds us that COVID-19 remains an ongoing challenge," JD Chairman Peter Cowgill said.

It flagged the risk of having to pay duties as the UK's transition period with the European Union is set to end later this year, and said it was establishing a more permanent European supply chain infrastructure.($1 = 0.7601 pounds)

By Tanishaa Nadkar


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASSOCIATED BRITISH FOODS PLC 0.93% 2270 Delayed Quote.0.27%
JD SPORTS FASHION PLC 1.21% 839.8 Delayed Quote.-2.35%
MARKS & SPENCER GROUP PLC -1.07% 138.1 Delayed Quote.1.32%
MSCI UNITED KINGDOM (STRD, UHD) -0.25% 1066.915 Real-time Quote.3.74%
SPORTS DIRECT INTERNATIONAL 0.96% 441 Delayed Quote.-2.30%
TED BAKER PLC 1.40% 115.6 Delayed Quote.-0.43%
All news about ASSOCIATED BRITISH FOODS PLC
01/15ASSOCIATED BRITISH FOODS : Trading update
AQ
01/15FACTBOX-How did UK retailers fare over coronavirus-hit Christmas?
RE
01/14ASSOCIATED BRITISH FOODS : Warns of $1.4 Billion Hit to Fiscal 2021 Sales If Sto..
MT
01/14Primark owner warns of 1.5 billion pounds sales hit if lockdowns last through..
RE
01/14ASSOCIATED BRITISH FOODS : Correction to AB Foods Article
DJ
01/14Primark-owner warns of extra 500 million stg hit if stores close until end Ma..
RE
01/14ASSOCIATED BRITISH FOODS : AB Foods 16-Week Revenue Hit by Store Closures, Prima..
DJ
01/14ASSOCIATED BRITISH FOODS : AB Foods 16-Week Revenue Hit by Store Closures, Prima..
DJ
01/14ASSOCIATED BRITISH FOODS : Revenue Drops 30% in Final 16 Weeks of 2020 Amid Stor..
MT
01/11ASSOCIATED BRITISH FOODS PLC : quaterly earnings release
More news
Financials
Sales 2021 14 857 M 20 212 M 20 212 M
Net income 2021 764 M 1 040 M 1 040 M
Net cash 2021 1 350 M 1 836 M 1 836 M
P/E ratio 2021 22,8x
Yield 2021 1,58%
Capitalization 17 930 M 24 340 M 24 393 M
EV / Sales 2021 1,12x
EV / Sales 2022 1,00x
Nbr of Employees 133 000
Free-Float 44,5%
Chart ASSOCIATED BRITISH FOODS PLC
Duration : Period :
Associated British Foods Plc Technical Analysis Chart | ABF | GB0006731235 | MarketScreener
Technical analysis trends ASSOCIATED BRITISH FOODS PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 2 320,05 GBX
Last Close Price 2 270,00 GBX
Spread / Highest target 23,3%
Spread / Average Target 2,20%
Spread / Lowest Target -40,5%
EPS Revisions
Managers and Directors
NameTitle
George Garfield Weston Chief Executive Officer & Executive Director
Michael G. McLintock Chairman
John George Bason Executive Director & Finance Director
Emma Susan Adamo Non-Executive Director
Ruth L. Cairnie Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ASSOCIATED BRITISH FOODS PLC0.27%24 147
NESTLÉ S.A.-3.24%315 748
MONDELEZ INTERNATIONAL, INC.-2.14%81 834
DANONE S.A-0.26%42 099
THE KRAFT HEINZ COMPANY-7.70%39 112
GENERAL MILLS, INC.-4.35%34 387