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Not good results as expected , and no dividend for some long term holders , many who rely on it for income. A sad day and shares I expect will drop dramatically.
Full Year Results are out on Tues 3rd November.
Analysts predict a strong recovery and according to T A this is due to rally in the near term .ABF have stated that the EYR due in November are better than forecast.
n/m.
that is the question.
Primark = the bulk of ABF profits.
As well or instead of Primark?
Some reports of a circut breaker for Wales from this Friday
with all non essential shops closing.
Will England follow...?.
1st tranche buy today at 1800.
Significantly overpriced looks a bit harsh.
Will this force ABF to consider an online option?.
That will be a NO!.
Will bounce back at least 10% next week
GLA
Well, I would say it's overly optimistic wishful thinking considering dropping expected profits by two thirds!!!
Even though competitors partially are using ABF products - preference there is strongly on their own (for obvious reasons)
All those guys are massively moving online and hiring thousands of permanent staff to deal with increasing demand.
ASDA
Aldi
Amazon
Co-Op
Iceland
JustEat
Lidl < no online/delivery
M&S
Morrisons
Ocado
Sainsbury's
Tesco
Waitrose & Partners
...etc...
As partially covered here:
https://www.bbc.co.uk/news/business-54072287
IMO - even with seemingly sufficient liquidity and RCF resolution
(although cost of debt/interest are really high atm - therefore it does make lots of sense to reduce here)
ABF is significantly overpriced as it is..
Associated British Foods (ABF) is set for a strong recovery as its Primark stores attract increasingly cost-conscious consumers, says Jefferies.
Analyst James Grzinic retained his ‘buy’ recommendation and target price of £23.30 on the shares, which rose 1.7% to £20.61 yesterday.
‘As expected, Primark’s relevance has remained strong post retail unlocks across Europe, despite an accelerated shift of apparel consumption to online,’ he said.
‘This sets the scene for 2020/21 as a year of strong recovery, with a challenged consumer playing into Primark’s strengths and a restructured high street leading to stepped up share gains in the physical market.’
Grzinic added that the group had a ‘remarkable balance sheet’ and would also benefit from ‘price resilience’ in sugar, which makes up part of the business.
I should prefer 1 penny.
It does indeed. Hopefully we’ll see a slow and steady rise and consolidation. Retail figures for later are tipped to be good which should help this week.
Well, looks like we've finally broken £2 completely.
Got a mention in the Telegraph as one of the few companies that is still cash-positive, that might have brought in some buyers.
Hopefully we can break £2 today or tomorrow and build resistance at that level. Today’s announcements from the Chancellor should encourage people to get out and spending again on the high streets.
Ok on sharesmagazine LIVE.... can anyone explain the massive amount of AT transactions BUY and SELL going thru at a penny each?
020-07-07 13:14:09 1,971.50 176 Buy £1.76 AT
2020-07-07 13:14:09 1,971.50 104 Buy £1.04 AT
2020-07-07 13:14:09 1,971.50 88 Buy £0.88 AT
2020-07-07 13:14:09 1,971.50 49 Buy £0.49 AT
2020-07-07 13:14:09 1,971.50 125 Buy £1.25 AT
2020-07-07 13:14:09 1,971.00 7 Buy £0.07 AT
2020-07-07 13:14:05 1,970.50 92 Buy £0.92 AT
2020-07-07 13:13:23 1,971.00 44 Buy £0.44 AT
2020-07-07 13:13:19 1,970.50 9 Buy £0.09 AT
2020-07-07 13:12:41 1,970.50 28 Buy £0.28 O
2020-07-07 13:11:32 1,970.50 40 Buy £0.4 AT
2020-07-07 13:11:28 1,970.00 163 Buy £1.63 AT
2020-07-07 13:11:28 1,969.50 29 Buy £0
Bet a few glad they followed the call and didn't get spiked now.
Positive RNS though which gives us a risk free investment. Can't see it holding at these levels but looks good for the future. I'm in PFD and bought in at 26p... still holding even with 160% profit as the potential is huge.
Guys, I would also be looking at PFD - Premier Foods. They reported 20% growth for Q1 and have Hovis, Sharwoods, MrKipling etc. The price there is re-rating extremely hard as its only trading on a 7x PE for 2020-1. Management all recently bought significant sums too.
There's still 20-25% recovery potential here, hence the increase. A relatively safe bet too. As you say, it will be interesting to see if she holds at these levels
Yes, indeed. Bigger picture, still a good potential upside over the course of the year